Tencent invests in two game streaming platforms in one day: Huya & Douyu

Chinese live-streaming platform Huya (虎牙) yesterday announced that it has pocketed $461.6 million in its series B financing round led by Tencent, marking Tencent’s second major investment in the live-streaming sector within one day after it revealed an RMB 4 billion ($630 million) investment in game streaming platform Douyu (斗鱼).

Huya’s financing round was completed yesterday. After the completion of the transaction, YY, the parent firm of Huya, maintains control over Huya. However, Tencent has also obtained the right, exercisable between the second and third anniversary of the deal’s closing date, to purchase additional Huya shares at fair market price to reach 50.1% of the voting power in Huya.

Huya has also announced plans to file for US IPO and has submitted a draft registration statement on a confidential basis to the US Securities and Exchange Committee for a possible listing in the US market.

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