In July 2020, Huya Inc. and DouYu International Holdings Limited completed their merger to form a new company called New Huya Inc. The new company is majority-owned by Tencent Holdings Limited, one of the largest internet companies in China. This merger combines two of the most popular live streaming platforms in China with a combined market share of over 70%. The new company will continue to operate under the Huya and DouYu brands. chinese tencentled huya douyu
Tencent, China’s largest internet company by revenue, is leading a $1.1 billion investment in Huya, a live-streaming platform for gamers, as it looks to tap into the country’s growing e-sports market. The deal will see Tencent take a majority stake in Huya and could value the company at up to $3 billion.
After years of development, Chinese game-streaming giants Huya and Douyu are set to merge. The all-stock deal, valued at around $6 billion, will see Tencent – Huya’s largest shareholder – take a controlling stake in the combined firm. chinese tencentled huya douyu
The move comes as China’s live-streaming market is reaching saturation point, with a host of platforms vying for attention.