*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).
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.
Greg Marsh, CEO of key duplication service KeyMe, wants his company to become the most trusted name in locksmithing and just got a boost from a $35 million round of fundraising.
The tech industry in the City of Angels is booming and Dot.La, a new digital media startup, wants to tell its story.
Atom Finance is challenging Bloomberg — whose eponymous terminal continues to dominate trading floors — by trying to develop a simpler product offering the depth of information that an institutional product might offer, but without a price tag that would break the bank for retail investors.
Here are the headlines you Need 2 Know for Friday, January 17, 2020.
Comcast announced more details about its upcoming service Peacock at a special investor presentation Thursday.
The UK-based startup Arrival, which is building small- and medium-sized electric vans for deliveries and other commercial roles, announced this week that it’s attracted a $110 million investment from Hyundai and Kia. The company says the partnership bumps Arrival’s valuation to more than $3 billion dollars.
House Speaker Nancy Pelosi called Facebook’s behavior “shameful” during her weekly press conference Thursday.
These are the headlines you Need 2 Know for Thursday, January 16, 2020.
TiVo, famous for its DVR devices that captured and recorded TV programs in real-time, is wading into the streaming wars with a new one-stop entertainment platform, says CEO Dave Shull.
