Tencent has invested $1 billion in Chinese counterparts of Twitch
Chinese IT giant Tencent has invested over $1 billion in local streaming platforms Douyu and Huya. In one day Douyu received $634 million, and Huya — $461 million.
Both platforms specialize in broadcasting games and other entertainment content. Douyu has a monthly audience of 13 million people, Huya is slightly behind with an indicator of 9 million.
In the future, Huya may completely come under the control of Tencent. Its current owner, represented by YY Inc, still retains control of the platform.
Nevertheless, Tencent has received the right to purchase additional shares of Huya, which will bring the ownership of the company to 50.1%.
According to the Technode publication, under the terms of the agreement, Tencent will be able to purchase the remaining shares no earlier than two years after the deal is concluded. The offer will be valid for 1 year.
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