Douyu, China´s Twitch backed by Tencent, files for a $500M U.S. IPO
(WorldNews Asia)

Douyu, a Chinese live streaming service focused on video games, has filed with the U.S. Securities and Exchange Commission as it prepares to raise up to $500 million on the NYSE less than a year after its archrival floated on the same stock market. Wuhan-based Douyu, whose name translates as “fighting fish�, is the second Twitch -like service backed by Tencent to go public in the United States. Its direct competitor Huya, who has a similarly fierce name “tiger’s teeth� and also counts Tencent as a major investor, raised $180 million from its NYSE listing last May. It’s not surprising for Tencent to hedge its bets in esports streaming, given the giant...