Tencent Increases Investment in Video Gamecasting Platform 'Douyu TV'
36Kr.com, 8/15/16
Guangzhou-based Douyu Network Technology, operator of video gamecasting platform Douyu TV, recently announced completion of RMB 1.5 bln in Series C funding led by Qingdao Phoenix Capital and Chinese internet and mobile services firm Tencent (0700.HK). Douyu said that funds are already in place and that its total funding now exceeds USD 2 bln.
Douyu Network Technology was established in April 2014 and previously completed more than USD 1 bln Series B funding in March 2016, led by a RMB 400 mln investment from Tencent.
Editor's Note: For more information on this topic, please see "Update: Tencent Invests in Video Gamecasting Platform 'Douyu TV'," MD 3/15/16 issue.
Keywords: online gaming mobile gaming Internet funding Tencent Series C 0700.HK Phoenix Capital Douyu Network Technology gamecasting Douyu TV M&A VC