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China's biggest live-streaming platform Douyu files for $500 million IPO in the US

The company is backed by Tencent and is considered China's answer to Twitch

China's biggest live-streaming platform Douyu files for $500 million IPO in the US

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.

InfluencerUpdate.biz has the full story.


Editor

Danielle Partis is editor of PocketGamer.biz and former editor of InfluencerUpdate.biz. She was named Journalist of the Year at the MCV Women in Games Awards 2019, as well as in the MCV 30 under 30 2020. Prior to Steel Media, she wrote about music and games at Team Rock.

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