Tencent-backed DouYu files for IPO Valued at $500 million

DouYu International, backed by Tencent Holdings (HKEX:0700) announced that it was filing for an IPO worth $500 million. As the largest live-streaming platform in China, DouYu has exclusive rights to 29 tournaments. Within the first quarter of 2019, DouYu had 159.2 million monthly active users, with the majority of its live streaming focused on game-streaming.

As quoted in the news article:

DouYu was the largest game-streaming platform by average total monthly active users (MAUs) on both mobile and PC during the fourth quarter of 2018, according to the prospectus. The company had 159.2 million MAUs in the first quarter of 2019, representing year-on-year growth of 25.7 percent.

It set a placeholder sum of $500 million for the IPO, which is used to calculate registration fees. The final IPO size could be different, though sources have previously told Reuters DouYu was looking to raise around $500 million.

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