TikTok’s Owner Wanted to Create a Hit Videogame. It Failed.

SINGAPORE—TikTok’s Chinese parent ByteDance has bet billions on videogames since 2019, setting up its own creative unit and acquiring buzzy game makers. 

Now it is winding down those efforts, its latest pullback from experimental forays into education, property brokering and virtual reality as it faces regulatory and economic headwinds at home and abroad.