*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 PayPal-owned, hugely popular person-to-person payment app is testing a feature that prompts senders to enter the last four digits of the intended recipient's phone number if the two aren't in each other's networks or haven't exchanged money before.
The region's natural gas utility, Peoples Gas, is spending $30 million to build five gas-fired generating stations that will together churn out 20 megawatts – enough not only for the airport itself but a hotel and gas station that are on-site.
These are the headlines you Need 2 Know for Wednesday, November 27, 2019.
J. Michael Prince, U.S. Polo Assn. CEO, told Cheddar that the brand is behind on growing in the e-commerce space, but have plans to change that.
Airbnb launched Airbnb Cooking Experiences on Monday, which features more than 3,000 food-themed activities in over 75 countries.
Tesla's CEO tweeted out the number of people he claims have already put down money for a reserved spot in line for when the electric pickup truck rolls off the line.
The digital banking startup MoneyLion has appointed Samantha Roady to the newly-created role of chief operating officer as the startup looks to grow its product suite, membership offerings and customer base over the next year.
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.
These are the headlines you Need 2 Know.
TRM Labs, the year-old crypto risk management startup, is planning to use its newly raised $4.2 million to grow its engineering and data science teams locally, expand into new markets, and accelerate product development, Esteban Castaño, co-founder and CEO of TRM Labs, told Cheddar Thursday.
