Tencent leads $100m round for China Douyu TV
Douyu TV, a Chinese online platform that features live videos of people playing games, has completed a $100 million round of funding led by Tencent Holdings.
Tencent itself committed RMB400 million ($61 million) to the round, while the remainder came from existing investors Sequoia Capital, Nanshan Capital and other unnamed participants, according to Tencent QQ News.
Founded in 2013, Douyu TV allows users to watch professional gamers playing games. The platform now has around 15 million daily active users and 200 million monthly users. It has recorded up to four million users watching its live feeds at the same time.
Following the investment, Douyu TV will work closely with Tencent in the areas of entertainment, sports, culture and intellectual property. It wants to become an integrated live broadcasting platform, providing video content across games, music, technology, outdoor activities, sports and films.
E-commerce giant Alibaba Group rolled out its own video-streaming service Tmall Box Office in September, providing a mixture of Chinese and foreign content. Late last year it also agreed to online video platform Youku Tudou at a valuation of approximately $4.8 billion.
Meanwhile, Baidu has China's largest internet video streaming business in iQiyi, which has about 10 million paid subscribers who watch more than 1.28 billion hours of content every month.
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