Chinese live-streaming company Douyu has filed for an initial public offering (IPO) in the US.

The platform is supported by gaming behemoth Tencent, and the IPO is set to be worth up to $500m. Douyu is essentially China's answer to Twitch, and its primary focus is on video game live-streaming.

Streaming competition

Live-streaming is a fast-rising market in the region and companies like Tencent are rushing to invest. Other tech conglomerates hopping on the trend include Alibaba Group Holding and Baidu Inc.

Douyu is the second streaming platform to launch an IPO in the US. Last May, competitor Huya raised $180m from its own offering. Huya also counts Tencent among its serious investors.

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