Updated 8 March 2018, 1:40 pm: This post has been updated to include a confirmation from Douyu about its new financing deal with Tencent.

Game streaming platform Douyu (斗鱼) will receive $630 million (RMB 4 billion) financing from Tencent and sign a strategic agreement with the company. The news was published by Xue Di Chu Wang official WeChat account and confirmed by Douyu’s founder and CEO Chen Shaojie.

A report from RFA Reuters published in January stated that Douyu is planning to raise about US$300-400 million from an IPO this year. However, the plan has not yet been confirmed by the company.

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Masha Borak

Masha Borak is a technology reporter based in Beijing. Write to her at masha.borak [at] technode.com. Pitches with the word "disruptive" will be ignored. Read a good book - learn some more adjectives.