Chinese livestreaming platform Huya has raised $180 million after successfully launching its initial public offering on the New York Stock Exchange.
The company is the top livestreaming service for games and esports in China. Its largest stakeholder is social media provider YY, though Tencent also owns a stake in the company following a recent $461.1 million investment.
Huya sold 15 million shares at $12 each, the high-end of its range.
According to Investor’s Business Daily, YY now owns a 44.5 per cent stake, while Tencent holds a 32 per cent stake.
Huya generated $348 million in total net revenue in 2017. It also reported to have 83.4 million average monthly active users during the fourth quarter of 2017, an increase of 17.2 per cent from 74 million MAUs from the year prior.
For mobile specifically, Huya claimed 36.2 million average MAUs in 2017, a rise of 74.5 per cent from 20.8 million in 2016.