*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).
The CEOs of Twitter, Facebook and Google have received a hectoring from Republicans at a Senate hearing for alleged anti-conservative bias in the companies’ social media platforms. And
Big tech CEOs are gearing up to testify in Washington as lawmakers prepare to take action on tech liability. Sen. Marsha Blackburn (R-Tenn.) joined Cheddar to discuss.
Garrett Lord, CEO and co-founder of Handshake, joined Cheddar to discuss how the future building company differs from typical job search platforms.
China’s Ant Group will try to raise nearly $35 billion in its initial public offering in Shanghai and Hong Kong, which would make it the largest share offering in history.
After just six months from its launch date, the short-form streaming platform is shutting down. The platform was not able to gain traction amid the coronavirus pandemic. Cheddar's Michelle Castillo breaks it all down.
Computer equipment maker, Logitech, reported record sales amid the coronavirus pandemic, raking in more than $1 billion in Q2. CEO Bracken Darrell joined Cheddar to discuss the company's long-term success.
Gabriel Weinberg, founder and CEO of DuckDuckGo joined Cheddar to discuss how Google's practices may have constrained the industry
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.
Cheddar's Michelle Castillo digs into how people are making entrepreneurship fit into their lives in the age of coronavirus.
Avinash Rugoobur, Arrival president, joined Cheddar to discuss the launch of the first microfactory in South Carolina, expected to produce 10,000 electric vans per year.
