*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).
These are the headlines you Need 2 Know for Thursday, January 23, 2020.
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Tesla's stock reached an all-time high on Wednesday when it opened at $571 per share, hoisting the company over the $100 billion market cap and making it the most valuable U.S. carmaker.
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These are the headlines you Need 2 Know for Wednesday, January 22, 2020.
Cruise, the autonomous-vehicle company backed by General Motors and Honda, unveiled the Origin on Tuesday which it says is the first self-driving vehicle designed from the ground-up to get from here to there without a driver.
Investors were eager to see how the company fared following the launch of Disney+ and AppleTV+ in November and in light of the upcoming launch of NBCUniversal’s Peacock streaming service.
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