Tencent-backed game-streaming firm DouYu files for $500mn US IPO

By Laura Mullan
Chinese live-streaming platform, DouYu International Holdings Limited, has filed for a US IPO of up to $500mn. Backed by social media and gaming giant...

Chinese live-streaming platform, DouYu International Holdings Limited, has filed for a US IPO of up to $500mn.

Backed by social media and gaming giant Tencent, DouYu primarily focused on the live-streaming of games.

For instance, the firm has exclusive streaming rights to 20 major tournaments in China including League of Legends and DOTA2.

In the first quarter of 2018, DouYu was the largest game-streaming platform by average total monthly active users (MAU) on both mobile and PC.

SEE ALSO:

The company intends to list its American depositary shares on the NYSE under the ticker ‘DOYU’.

DouYu says it will use the funds to invest in eSports content, research and development, as well as marketing.

Morgan Stanley, J.P. Morgan and BofA Merrill Lynch are acting as underwriters for the IPO.

Share

Featured Articles

Celonis Data Insights Driving BMW's Sustainability Journey

Celonis and the BMW Group have strengthened their partnership to optimise the auto giant’s processes and increase efficiency, productivity & sustainability

How Zoom is Using AI Innovation to Reimagine Teamwork

Zoom has announced Workplace, its new AI-powered collaboration platform, to help reimagine teamwork, facilitate connections and improve productivity

How SAP is Accelerating Deutsche Telekom’s Cloud Journey

Europe’s largest telecommunications provider Deutsche Telekom is using RISE with SAP to accelerate its journey to the cloud

Alibaba Cloud’s Dr Li Feifei: Combining AI & Cloud Computing

Data & Data Analytics

Mustafa Suleyman: DeepMind Cofounder is new Microsoft AI CEO

AI & Machine Learning

Nvidia Blackwell Aims to Continue Powering AI Acceleration

AI & Machine Learning