*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).
Alabama State University has managed to keep COVID-19 infections at zero despite rising cases on college campuses. University president, Quinton Ross, Jr, joined Cheddar to discuss new technology that scans for coronavirus symptoms.
In the 1980's and 90's, the solar car was deemed the future of transportation. Yet, just as quickly as it arrived, the solar car disappeared. But today, as the problems caused by our reliance on fossil fuels have grown, so has a demand for alternative sources of energy for our vehicles. While electric cars are rapidly gaining a larger share of the automotive market, this technology still relies on electricity from a grid often fueled by petroleum or coal. And this is why some companies today are again trying to harness the most powerful energy source we know: the sun.
Electric vehicle maker, Nikola, announced a partnership with General Motors to construct its electric pick up truck, the Badger. Founder and executive chairman, Trevor Milton, joined Cheddar to production timeline and benefits of joining GM.
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.
Stocks fell sharply on Wall Street Thursday as high-flying technology companies took a tumble after months of spectacular gains.
With just two months left until the U.S. presidential election, Facebook says it is taking additional steps to encourage voting, minimize misinformation and reduce the likelihood of post-election “civil unrest.”
Patreon has been valued at over $1.2 billion as the coronavirus pandemic forces creators find new outlets. CEO Jack Conte joined Cheddar to discuss the company's vision.
Altice USA, Cheddar's parent company, has made an offer to purchase the rest of Cogeco, which owns Atlantic Broadband. Altice USA will sell the Canadian assets to Rogers Communications.
Samsung’s second attempt at a foldable smartphone will come with a $2,000 price tag and a few elite perks aimed at affluent consumers still able to afford the finer things in life during tough times.
Facebook said Tuesday that it removed a small network of accounts and pages linked to Russia's Internet Research Agency, the “troll factory" that has used social media accounts to sow political discord in the U.S. since the 2016 presidential election.
