*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).
Apple said Tuesday it is expanding the iPhone's capabilities to accept contactless payments, making it easier for merchants to conduct tap-to-pay transactions without having to buy additional hardware.
The Justice Department has announced its largest-ever financial seizure — more than $3.5 billion — and the arrests of a New York couple accused of conspiring to launder billions of dollars in cryptocurrency.
The IRS said Monday it will suspend the use of facial recognition technology to authenticate people who create online accounts after the practice was criticized by privacy advocates and lawmakers.
As we celebrate Black History Month, Cheddar is highlighting prominent Black Americans who are carving their own historic paths and trailblazing in their industries. Today we feature Greg Robinson, director of NASA's James Webb Space Telescope program.
The last trading day of January ended one of the most rocky months for the markets in nearly two years. Dan Russo, Portfolio Manager and Director of Research, at Potomac Fund Management explains what happened in January, and what to expect for February.
Just ahead of Google parent company Alphabet reporting its fourth quarter earnings, investors are keeping an eye on revenue from its cloud services, which has been a major area of development recently as well as its ad revenue. Adam Lampe, CEO and Co-Founder of Mint Wealth Management explains why the cloud may be the future for Alphabet.
After weeks of bad news about Peloton, reports indicate that the at-home fitness giant might find itself getting acquired. Doug Astrop, managing partner at Exponential Investment Partners, joined Wake Up With Cheddar to discuss the possibility that Amazon, Nike, and Apple might be showing interest in buying the subscription-based business, whose shares have plummeted near 80 percent in the past year. "At some point everybody hits the limit on how many monthly fees they want to pay, how many subscriptions they want to have," said Astrop. "And you know, you've got Netflix, you got Amazon Prime, you got Spotify — I mean there's there's endless people who want you to pay a monthly fee. So, if you can be part of these bundles, it can really be advantageous for everybody."
