TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Huya and DouYu to merge; Take-Two Interactive acquires Ruffian Games; and misleading Playrix adverts banned in the UK. Huya and DouYu to merge Chinese video game streaming firms Huya Inc. and DouYu International Holdings Ltd. have announced that they are set to merge in a stock-for-stock transaction, creating a combined entity valued at approximately USD$11bn (£8.4bn). Tencent Holdings Ltd., which currently owns stakes of 50.1% and 38% in [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent gaming draws US scrutiny; Stillfront acquires Nanobit; and Bunch raises USD$20m (£15.4m). Tencent gaming draws US scrutiny The Committee on Foreign Investment in the United States (CFIUS) has sent formal enquiries to US-based video game companies in which Tencent Holdings Ltd. holds a minority or majority stake, including Epic Games and Riot Games, over their data security practices. Tencent has over 300 investments across its portfolio, including [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: IGN parent firm Ziff Davis partners with Tencent to relaunch IGN China; Apple blocks Epic Games from submitting updates to the App Store; and Potato Play raises $1.75m in seed funding.   Ziff Davis and Tencent Partner in IGN China relaunch   Parent-company of IGN, Ziff Davis, has joined forces with Chinese technology heavyweight Tencent to relaunch IGN China. The new version of the company’s flagship site, which went live [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent discussing Huya and DouYu merger; AT&T cools WBIE sale rumours; and Facebook and Microsoft criticise Apple over App Store policies. Tencent discussing Huya and DouYu merger Executives at Tencent Holdings Ltd. are driving discussions aimed at brokering a merger between leading Chinese streaming platforms Huya Inc. and DouYu International Holdings Ltd., in which the company owns stakes of 37% and 38% respectively. According to anonymous sources speaking [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Epic Games raises USD$1.78bn (£1.35bn); Trump signs executive order against Tencent; and Enthusiast Gaming acquires Omnia Media. Epic Games raises USD$1.78bn (£1.35bn) Epic Games has announced that it has raised USD$1.78bn (£1.35bn) of primary capital and secondary purchases from a host of investors, including Baillie Gifford; BlackRock; Lightspeed Venture Partners; T. Rowe Price Associates; and returning partners KKR and Smash Ventures. The North Carolina-based firm has confirmed that [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: China to enforce age ID system from September; Veloce merges esports and racing divisions; and Microsoft rebrands Game Pass. China to enforce age ID system from September China has announced that its updated real-name identification system for games, ostensibly designed to limit both the time and money spent by children within games, will be implemented nationally from September onwards. As reported in the South China Morning Post, Central [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Live-streaming viewership climbs rapidly over Q2; LocalizeDirect raises SEK10.26m (£909,600); and ESL and Dreamhack enter partnership with Huya. Live-streaming viewership climbs rapidly over Q2 Hours spent watching content on livestreaming platforms have increased sharply over Q2 2020, with viewership climbing by 56% on Twitch and 75% on Facebook Gaming over the previous quarter, according to figures published by StreamElements in collaboration with Aresenal.gg. Over five billion hours were [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Chushou TV shuttered; Microsoft tells developers not to charge for next-gen upgrades; and AppLovin appoints four executive team members. Chushou TV shuttered Chinese video game streaming platform Chushou TV has been shuttered as of 2nd July 2020 in the wake of claims that it has not paid streamers and influencer agencies for several months, with some providers owed up to CN¥5m (£569,000). The streaming market in China is [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Discord raises USD$100m (£80.5m); thousands of games removed from China iOS store; and Animoca Brands acquires GAMEE. Discord raises USD$100m (£80.5m) Voice and video chat platform Discord has announced that it has raised USD$100m (£80.5m) in funding from Index Ventures, valuing the San Fransisco-based firm at an estimated USD$3.5bn (£2.8bn). The investment will be used to support the implementation of new features and to support the platform’s expansion [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Grishin Robotics raises USD$100m (£80.1m) fund; China iOS games to require government approval; and FaZe Clan gains stake in CTRL. Grishin Robotics raises USD$100m (£80.1m) fund Silicon Valley investment firm Grishin Robotics, founded by Mail.ru Group Founder and Chairman Dmitry Grishin, has raised USD$100m (£80.1m), in a move which will see the vehicle expand from its traditional territory of hardware into video gaming and interactive entertainment, alongside educational [...]