Video games

Chinese gaming platform giant DouYu files to go public

Illustration of Xbox controllers
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).

Cord-cutting hits video games

Illustration: Rebecca Zisser/Axios

Video games are the next entertainment industry undergoing a major disruption, all the way down to the consoles and controllers.

Details: "In the past, you plunked down $60 at GameStop for a copy of Grand Theft Auto or Madden NFL and played it out — after which you could trade it in or let it gather dust," the AP reports. "Now, you’ll increasingly have the choice of subscribing to games, playing for free or possibly just streaming them over the internet to your phone or TV."