DouYu, Game-Streaming Firm Backed by Tencent, Files for U.S. IPO
A webcasting hostess poses take pictures with a fan during the Douyu festival on May 29, 2017 in Wuhan China.
Photographer: Wang HE/Getty ImagesThis article is for subscribers only.
DouYu International Holdings Ltd., a Chinese video-game live-streaming platform, filed for an U.S. IPO as it seeks to win market share among the country’s younger generation who love to splurge on virtual gifts for their favorite streamers.
The initial filing came almost a year after its biggest competitor, Huya Inc., listed in the U.S. last May. The duo, which operate like Twitch, are China’s top two video-game live-streaming platforms. Both companies are backed by Tencent Holdings Ltd., which plowed more than $1 billion into DouYu and Huya in the past year.