Live-streaming platform Huya gained 7.54%, with the stock price climbing to $17.25, giving it a total market value of $3.786 billion as the mergence between Huya and Douyu is said to be underway.
Tencent-backed Chinese game-centric live streaming platform Douyu Tuesday reported a 53% year-on-year increase in its total net revenue to $321.1 million in Q1 2020.
As short video apps and game livestreaming platforms are all jumping on the Chinese commercial livestreaming bandwagon, some of them are looking to appeal to a different demographic.
Tencent has appointed new directors to serve on the boards of Douyu and Huya.
Within the past week, four US shareholder rights litigation firms announced an investigation into claims against Chinese livestreaming platform Douyu.
According to people familiar with the matter, the pre-IPO valuation of Kuaishou, one of China’s leading short-video start-ups, has reached $25 billion.
Douyu, the game live streaming company, has officially gone public on NASDAQ on July 17, trading under the ticker symbol of “DOYU”.
China in all respects is a game streaming Eden. With a vast population and prodigious strides in tech, it will hardly run out of young virtual reality pundits willing to show off their gaming skills online in the near future.
Douyu TV, the largest game-centric live streaming platform in China, has updated the terms of its IPO in its prospectus. The Wuhan-based firm said it will offer a total 67.4 million shares, of which 44.9 million American depository shares and 22.5 million shares offered for sale by current stakeholders.