NEW YORK -- Douyu, the gaming-focused streaming platform backed by internet giant Tencent Holdings, began trading Wednesday on the Nasdaq after a $775 million IPO -- the largest by a Chinese company in the U.S. this year. The Wuhan-based company opened at $11.02 per American depositary share. This is 4% lower than the initial public offering price of $11.50, which already fell on the low end of its expected range. Douyu initially filed to raise $500 million but lifted its fundraising target after moving into the black in the first quarter of 2019. The company lost $127 million in 2018 on $532 million in revenue.
Amazon Touts Record Prime Day 2019 Sales, Device Sales And Provides Boost For E-commerce Overall | Zdnet
Amazon's 48 hour Prime Day sale drove the company's biggest day of new Prime sign-ups. Meanwhile, Adobe Analytics found Prime Day boosted retail sales overall.
High-rise developers in Manhattan are struggling due to glut of new supply, new tax laws and declining demand by foreign buyers, reports the Wall Street Journal. The New York Times looks at new office designs in the open workplace. These are among today's must reads from around the commercial real estate industry.
Although the masses and most of the financial media blame hedge funds for their exorbitant fee structure and disappointing performance, these investors have proved to have great stock picking abilities over the years (that's why their assets under management continue to swell). We believe hedge fund sentiment should serve as a crucial tool of an individual investor's stock selection process, as it may offer great insights of how the brightest minds of the finance industry feel about specific stocks. After all, these people have access to smartest analysts and expensive data/information sources that individual investors can't match.
Camber Creek has raised $120 million for its third fund, according to an SEC filing. The New York City and Rockville, Maryland-based venture firm invest in tech companies focused on the real estate market.
Strategic Partners, Blackstone's secondary private equity platform, closed its eighth fund on more than $11.1 billion. Strategic Partners VIII L.P.'s investors include pension funds, sovereign wealth funds, fin [...]
Bellevue, Washington-based Icertis, a contract management startup, has raised $115 million in Series E funding. Greycroft and Premji Invest led the round with participation from return backers including B Capital [...]
Vendasta, a Saskatoon-based white-label software company, has raised $40 million in its latest financing. Canadian Business Growth Fund (CBGF) led $25 million of the round. It adds to a $15 million investment m [...]