At the end of the month, Douyu successfully went public in the U.S., with its stock price surging on the first day. Investors highly recognized Xingyu's contributions to the platform's stable operations.
By the end of July, Huya also successfully listed on Nasdaq, with its stock price soaring as well.
Immediately afterward, under Tencent's coordination, Xingyu acquired Longzhu Live in full for $650 million, merging it with Dog Star Platform and renaming it Star Shining Live.
As soon as Star Shining Live launched, it quickly became the third-largest platform, pushing Panda out of the way.
It soon surpassed Huya, overtook Douyu, and took the lead effortlessly.
The unexpected rise of Star Shining Live also triggered a merger frenzy among livestream platforms. The industry entered a fierce battlefield of spending money, attracting investments, and burning cash to the point of bankruptcy.
