*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).
In Srinagar, the capital city of Jammu and Kashmir, over one million people woke up last week to a complete telecommunications blackout. The blackout was mandated by the Indian government, which just hours later would unilaterally strip the disputed territory of its autonomy status.
The Utah-based virtual reality startup expanding its "add-on" for retail centers in a bid to draw shoppers back to malls and into the worlds of Hollywood's most popular franchises through its virtual reality experiences.
While the combined media giants will be able to produce more content, the jury is still out on whether or not ViacomCBS will be able to compete with other streaming behemoths.
Greenbox Robotics' artificial intelligence-powered robots at CBD and wellness shop Come Back Daily. Founder Zack Johnson hopes machine will not only boost business and speed up sales, but also educate customers about hemp compound CBD.
Founder and CEO Coulter Lewis told Cheddar that Sunday aims to distinguish itself within the industry by focusing on the strength of grass, rather than on killing weeds and pests.
A Cheddar video illustrating a salmon cannon developed to help fish pass over dams in seconds, rather than days, surprisingly brightened up social media in 2019.
VineSight, an AI-based start-up, is working to detect misinformation attacks against candidates like Joe Biden or Kamala Harris early during their campaigns.
The two-year old startup plans to build a network of satellites to allow cellphones to connect to a network anywhere on Earth's surface.
These are the headlines you Need 2 Know for Monday, Aug. 12, 2019.
This fence bends up to 8 inches.
