*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).
Cheddar has been covering the biggest news of the week with some of the biggest names in the biz. In case you missed it, we've pulled together some of the highlights that will keep you informed as we get ready for the week ahead.
Educators have announced plans to increase security in response to TikTok posts warning of shooting and bomb threats at schools around the country Friday as officials assured parents the viral posts were not considered credible.
Despite the hype and headlines earlier this year around meme stocks and Robinhood, the SEC and FINRA have made few concrete changes around retail investing.
The Senate Committee on Banking, Housing and Urban Affairs held a hotly debated hearing regarding fiat-backed stablecoins on Tuesday that still led to a conclusion the space needed some form of regulation.
Chalkboard is the first platform for sports bettors fueled by real betting data with a unique social platform that provides seamless real-time bet tracking, score updates, and social interaction between sports fans. Ted Mauze, co-founder & CEO of Chalkboard, and Saniyah Lawson, NBA sports betting influencer & Chalkboard NBA community manager, join Cheddar News.
Cheddar senior reporter Michelle Castillo looks into the peer-to-peer fashion rental platform Wardrobe and how the service is helping to cut down on waste.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
