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Live streaming platform completes series D financing

By Ouyang Shijia | chinadaily.com.cn | Updated: 2017-11-20 20:06

Wuhan Douyu Network Technology Co Ltd, a Chinese live streaming platform backed by internet giant Tencent Holdings Ltd, recently announced it has completed the series D round of financing in the first half this year, led by CMB International Capital Corp. Its existing investor, Nanshan Capital, also participated in this round.

Amazon's Twitch-like platform Douyu said it now has turned profitable and would continue to actively develop investment in other companies related to the gaming and live streaming sectors.

According to Douyu, abundant financial resources will further cement its place as a leading live streaming service provider in China, and will help it better implement its pan-entertainment strategy.

Before the latest injection, Douyu had raised a total of more than 2.2 billion yuan ($332 million) investment, giving it a unicorn valuation of more than 10 billion yuan.

According to app tracker Analysys Qianfan, Douyu, which allows users livestream their gaming to a dedicated online audience, gained the top spot among Chinese live streaming apps in September this year. It attained more than 15 million monthly actively users in September, up by 14.78 percent over the previous month.

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