China cyber watchdog punishes the country’s major online live streaming platforms for spreading “vulgar” content.
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.
Huya, a leading video game live streaming platform in China, apologized for its mistake in including game marketing in one of its education service function.
Video-based social media platform JOYY reported strong growth in the first quarter of 2020 as the company further pushes its overseas live-streaming apps.
Tencent has appointed new directors to serve on the boards of Douyu and Huya.
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.
Benefitting from the expansion of its user base, Huya, a leading game live streaming platform in China, continued gaining profits for the seventh consecutive quarter, according to its newly released earnings report in the second quarter of 2019.