*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 Redmond-based tech giant is taking on the Internet of Things, but Microsoft Azure IoT is focusing specifically on the enterprise space for corporate clients.
The smart location company that manufacturers a Bluetooth tracker to incorporate with your precious objects recently raised $45 million in funding.
Apple released its third quarter earnings on Tuesday after the bell, slightly beating expectations despite slowing iPhone sales.
Shark Week is back for its 31st year and fans can bite into a new lineup of shows featuring some of the ocean's fiercest predators.
Green Dot, the inventor of prepaid debit cards and the invisible banking platform behind fintech startups and brands like Uber and Apple Pay, is becoming a direct-to-consumer brand with the launch of (yet another) high-yield savings account and a cash-back checking account.
With Project xCloud, Microsoft throws its hat in the ring against the upcoming Google Stadia and the already-existing PlayStation Now service, allowing games to stream from hardware located in the cloud network.
Chicago-based cannabis company Cresco Labs unveiled a new dispensary and retail cannabis shop concept on Monday. Called Sunnyside, the concept emphasizes health and wellness and aims to create an accessible, immersive retail environment that pushes Cresco along on its mission of creating a nationally-recognizable cannabis brand.
Cheddar spoke to Twitter's head of global operations and emerging businesses Yannis Dosios after the social media platform shared strong earnings with the number of monetizable daily active users going up.
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.
The Department of Justice has required that Sprint divest its prepaid division to Dish in a move worth about $1.4 billion. Sprint and T-Mobile must also make 200,000 cell sites available to that provider as well.
