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Briefing: E-sports video streaming platform Douyu reportedly files for US IPO
斗鱼直播确定赴美IPO 此前融资额已达70亿元 – The Beijing News
What happened: E-sports video-streaming platform Douyu has confirmed its plan to go public in the US, according to a person close to the company’s executives. The news came a day after a report from IFR Asia claimed that the Tencent-backed platform has filed confidentially for a $500 million US IPO, quoting people close to the deal. If the platform is listed, it will be the second Chinese e-sports video-streaming platform to have its IPO in the US, following Huya, which went public in May last year.
Why it’s important: This is the latest of a series of confirmations from different sources about Douyu’s US IPO plan. Financial Times reported in 2018 that the company scrapped its plan to go public in Hong Kong and started planning a $600 million to $700 million US IPO. Douyu streams primarily videos of people playing video games and is valued by analysts at CBInsights at around $1.51 billion. The US IPO could help the company further its footing in China’s booming and highly competitive e-sports market.