Business
GDC Discontinues Livestreaming Gaming Business
NEW YORK, Jan. 27, 2025 (GLOBE NEWSWIRE) -- GD Culture Group Limited (“GDC” or the “Company”) (Nasdaq: GDC), and its subsidiary, AI Catalysis Corp. (“AI
About this update from Gd Culture Group Limited
[{"type":"text","content":"NEW YORK, Jan. 27, 2025 (GLOBE NEWSWIRE) -- GD Culture Group Limited (“GDC” or the “Company”) (Nasdaq: GDC), and its subsidiary, AI Catalysis Corp. (“AI Catalysis”), today announced its decision to discontinue its online livestreaming gaming business after conducting a comprehensive assessment. While this decision marks a significant shift, previously released games and related content will remain operational but will no longer receive updates. The move aligns with the Company's broader strategy to optimize resources and focus on areas with greater long-term potential. Launched 18 months ago, the livestreaming gaming business capitalized on an exciting and rapidly evolving industry. During this period, the community of players, streamers, and stakeholders played a vital role in the platform's success, contributing to engaging gaming experiences that reached global audiences through social media. Mr. Xiaojian Wang, Chairman and Chief Executive Officer of the Company, commented, “We are deeply grateful to our loyal community of players, streamers, and stakeholders who have supported our efforts over the past 18 months. Their passion, creativity, and dedication of our community have been instrumental in delivering engaging gaming experiences. This decision is part of a broader strategy to prioritize our resources and efforts on products and initiatives that best align with our long-term vision and customer needs. While it was not an easy decision, this transition allows us to refocus on areas of greater strategic importance. We remain committed to ensuring a smooth and transparent process for all stakeholders.” To stay informed on updates, please visit the Company’s website at www.gdculturegroup.com. About GD Culture Group Limited GD Culture Group Limited (the “Company”) (Nasdaq: GDC), is a Nevada company currently conducting business mainly through its subsidiaries, AI Catalysis Corp. (“AI Catalysis”) and Shanghai Xianzhui Technology Co, Ltd. The company plans to enter into the livestreaming market with focus on e-commerce through its wholly owned U.S. subsidiary, AI Catalysis, a Nevada corporation incorporated in May 2023. The Company’s main businesses include AI-driven digital human technology, live-streaming e-commerce business. For more information, please visit the Company's website at https://www.gdculturegroup.com/. Forward...