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Tencent leads $226m investment in Douyu TV

Wednesday, 17 Aug 2016 15:20   |   By Chen Yaping

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Chinese game streaming platform Douyu TV announced that it has closed a Series C financing round of RMB 1.5 billion (US$ 226 million) led by tech giant Tencent and Phoenix Capital.

According to an earlier report, Douyu has raised RMB 670 million in its Series B financing, in which Tencent invested RMB 400 million. It raised several million U.S. dollars in its series A funding from Sequoia Capital China and Nanshan Capita in September 2014.

Founded in 2013, Douyu is a Chinese start-up similar to Amazon’s live video-game streaming service Twitch.

According to official company statements, as of March, the platform had around 15 million daily active users, around 200 million monthly active users and 4 million peak concurrent sitewide viewers.

After this round of financing, Douyu plans to co-operate further with Tencent in content sharing. The sports unit of Douyu will be integrated into Qie Live, a live broadcast platform under Tencent.

Earlier, Tencent spent about US$ 8 billion last month acquiring a majority stake in Supercell, the developer of “Clash Royale”.

Source: chinamoneynetwork & AllChinaTech

Proofread by Sean O Diobhilin

Tags: Tencent,investment,eSports

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