Douyu TV, Chinese version of Twitch, raises $100m in Tencent-led round

Douyu TV, an online platform for live videos of people playing games, has raised $100 million in a funding round led by China’s internet giant Tencent Holdings Ltd. The deal reportedly values Douyu TV at over $1 billion.

Existing investors Sequoia Capital China, and Nanshan Capital also participated. Tencent’s investment was about $61 million, according to TencentQQ News (Chinese). The funding values Douyu TV at over $1 billion, making it the latest unicorn in China. 

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