Apr 23, 2019

Chinese gaming platform giant DouYu files to go public

Illustration: Axios Visuals

DouYu, a Chinese live game-streaming platform, on Tuesday filed for a $500 million IPO.

Why it matters: This may be the largest of what is about to be a flood of highly-valued Chinese companies going public in the U.S. This week features road-show launches for both So-Young (online plastic surgery marketplace) and Yunji (social e-commerce), while yesterday came an IPO filing from Luckin Coffee (whose $150m fundraise was our BFD just last week).

  • Details: DouYu plans to trade on the NYSE (DOYU) with Morgan Stanley as lead underwriter, while backers include Tencent and Sequoia Capital China. The company reports a $127 million net loss on $531 million in revenue for 2018, respective increases of 43% and 200% over 2017.
  • Bottom line: "Douyu, whose name translates as “fighting fish,” is the second Twitch-like service backed by Tencent to go public in the U.S. Its direct competitor Huya, who has a similarly fierce name “tiger’s teeth” and also counts Tencent as a major investor, raised $180 million from its NYSE listing last May." — Rita Liao, TechCrunch

Go deeper

U.S. coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios. This graphic includes "probable deaths" that New York City began reporting on April 14.

Coronavirus antibody tests are still relatively unreliable, and it's unclear if people who get the virus are immune to getting it again, the Centers for Disease Control and Prevention cautioned on Tuesday.

By the numbers: More than 98,900 people have died from COVID-19 and over 1.6 million have tested positive in the U.S. Over 384,900 Americans have recovered and more than 14.9 million tests have been conducted.

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

Mexico reported its highest single-day death toll on Tuesday, after 501 people died from the coronavirus, per data from Johns Hopkins and the country's health ministry.

By the numbers: Almost 5.5 million people have tested positive for the virus as of Tuesday, and more than 2.2 million have recovered. The U.S. has reported the most cases in the world (over 1.6 million from 14.9 million tests).

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 5,588,299 — Total deaths: 350,417 — Total recoveries — 2,286,827Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 1,680,625 — Total deaths: 98,902 — Total recoveries: 384,902 — Total tested: 14,907,041Map.
  3. Federal response: DOJ investigates meatpacking industry over soaring beef pricesMike Pence's press secretary returns to work.
  4. Congress: House Republicans to sue Nancy Pelosi in effort to block proxy voting.
  5. Business: How the new workplace could leave parents behind.
  6. Tech: Twitter fact-checks Trump's tweets about mail-in voting for first timeGoogle to open offices July 6 for 10% of workers.
  7. Public health: Coronavirus antibodies could give "short-term immunity," CDC says, but more data is neededCDC releases guidance on when you can be around others after contracting the virus.
  8. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 22 mins ago - Politics & Policy