*By Jacqueline Corba*
The Chinese gaming firm Huya made its public market debut Friday, trading up as much as 41 percent from its IPO price of $12.
"We are very glad," said Huya's chief financial officer, Henry Sha, in an interview with Cheddar shortly after the company began trading on the New York Stock Exchange. "The e-sports environment in the U.S. market is quite good. A lot of gamers, a lot of e-sports are enthusiastic here, so we believe that the U.S. investor, the U.S. market can understand more about our company."
Huya's live-gaming platform has an average of 40 million active monthly users on mobile. In 2017, revenue was $344 million.
Sha said China is the primary market for Huya, but there is great potential among gamers in the United States.
Huya aims to raise $165 million in its public offering, Sha said, with the intention of using the capital to invest in e-sports and content creators.
Chinese entertainment giant Tencent is the second-largest stakeholder in Huya, and will maintain its 39.5 percent ownership. "We are very excited about future collaboration with Tencent," said Sha.
For the full interview, [click here](https://cheddar.com/videos/huya-soars-in-market-debut).
Carlo and Baker cover Facebook's big rebrand, the latest on Biden's economic agenda and more. Plus, ranking the best Halloween candy and the worst couple's costumes.
Nicola Mendelsohn, vice president of the global business group at the newly-christened Meta, joined Cheddar to discuss what went into the re-branding of Facebook's parent company. Regarding criticism that the name change might be a way for the company to deflect from news of its role in allegedly undermining child safety, growing political strife, and spreading vaccine disinformation, she noted that the process began even earlier. "Something like this takes a long time to pull together," Mendelsohn said.
Proptech startup Juno recently raised $20 million in a Series A funding round. The company says the funds will be used to further its mission of building sustainable and affordable apartment buildings across the United States. Juno Co-Founder and CEO Jonathan Sherr joined Cheddar News' Closing Bell to discuss.
The CEO at Activision Blizzard Bobby Kotick apologized to employees after the company had been rocked by the public airing of sexual harassment claims that went unchecked. Kotick also asked that his compensation of more than $150 million be slashed to just over $62,000.
Stacey Stevens, President of iCAD, joins 'Cheddar Innovates' to discuss how 'Profound A.I. Risk' works as a short-term breast cancer risk estimation for women.
