Chushou Funding, Investors & Competitors

Chushou has raised $186M across 3 funding rounds, most recently a $8M Series A in November 2018.

Last Chushou funding round

$8M

Series A · Nov 2018

Chushou revenue

$14M

Series D · Jan 2018

Key investors in Chushou

  • Qiming Venture Partners
  • GGV Capital
  • Shunwei Capital
  • AlphaX Partners
  • Alphabet
  • iQIYI

Chushou Overview

About Chushou

Chushou is a Beijing-based live video streaming service targeting social entertainment. The platform hosted 2.7 million broadcasters with 150,000 daily actives before its 2018 acquisition by Huya, featuring virtual gifting, talent scouting, and mobile apps for user-generated content in gaming and music categories.


Founded

2015

HQ

ChinaShanghai

Website

chushou.tv

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Revenue

$14M (Jan 2018)

Chushou Revenue

Chushou's latest recorded revenue is $14M, as of its Series D in January 2018.

Chushou revenue by funding round

Chushou revenue and valuation multiple by funding round
DateRevenue *Stage
Jan 2018$14MSeries D

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Chushou Funding History

Chushou has raised a total of $186M across 3 funding rounds.

Chushou's first fundraising round was a $58M Series C in January 2017. The most recent completed round was a $8M Series A in November 2018.

Chushou funding rounds

Chushou funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2018Series AiQIYI (lead); Qiming Venture Partners (lead); GGV Capital$8M-
Jan 2018Series DAlphabet (lead); AlphaX Partners; Shunwei Capital; Qiming Venture Partners$120MChushou, a Chinese live-streaming and esports video platform, raised a $120 million Series D round led by Google in January 2018. Other investors in the Chinese company over its funding history include Qiming Venture Partners, Shunwei Capital, GGV Capital and AlphaX Partners. Chushou is headquartered in Hangzhou and was founded in 2011. The platform focuses on game and esports streaming and has reported tens of millions of registered viewers and several million streamers. Chushou's reported net assets were 196 million yuan, with annual operating revenue of about 90.3 million yuan and a net loss of about 190 million yuan at the time of the round. Cumulative funding has been reported at about $265 million over five rounds.
Jan 2017Series CGGV Capital (lead); Shunwei Capital (lead); AlphaX Partners; Qiming Venture Partners$58MChushou TV is a mobile video live streaming platform focused on games streaming, established under Kaixun Technology in Hangzhou in 2011. The company completed a RMB 400 million (US$58 million) funding round in December 2016, led by GGV Capital and Shunwei Capital, with prior investment from Meisheng Culture, which later withdrew in September 2017. Following this round, Chushou received additional investment, including a $120 million D-round from Google-backed financing, with Kaixun CEO David Cao holding a 54.47% stake in the parent entity and registered capital at 12 million yuan. Chushou's founders and management held 34.75% in Kascend, the operator of Chushou TV, while GGV Capital, Shunwei, and others held 59.08%. The platform operated in the competitive Chinese live streaming market, which saw significant venture capital activity.

Who has invested in Chushou?

6 investors have backed Chushou across its funding rounds, including Qiming Venture Partners, GGV Capital, Shunwei Capital, AlphaX Partners, Alphabet and iQIYI.

Lead investors include iQIYI, Qiming Venture Partners, Alphabet, GGV Capital and Shunwei Capital.


Chushou Investors

Investors in Chushou by funding rounds participated
InvestorHQRoundsRoleFirst check
Qiming Venture PartnersChinaShanghai3LeadJan 2017
AlphaX PartnersChinaBeijing2ParticipantJan 2017
Shunwei CapitalChinaBeijing2LeadJan 2017
GGV CapitalUnited StatesSan Francisco, CA2LeadJan 2017

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Chushou Competitors

Chushou competitors include listed companies like DouYu and RUM Group, and private ones like SoundCloud, mobli, EloElo and Patreon.

Public and private companies comparable to Chushou
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SoundCloudGermanyBerlinPrivate--$700M-
DouYuChinaChinaPublicly listed$573M($5M)$118M-
mobliIsraelTel AvivPrivate--$1B-
EloEloIndiaBangalorePrivate$7M-$500M68.2x
PatreonUnited StatesSan Francisco, CAPrivate$80M-$4B50.0x
RUM GroupUnited StatesUnited StatesPublicly listed$101M($78M)$2B10.4x

Chushou Public Comps

Chushou is still privately-owned, but its public comps include Alphabet, Amazon, Meta, Tencent, Netflix, Disney, Spotify, Comcast, NetEase and Fox Corporation.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Alphabet$403B$176B8.4x7.0x19.2x15.2x
Amazon$717B$161B4.1x3.6x18.4x14.1x
Meta$201B$104B7.9x6.4x15.4x11.3x
Tencent$113B$51B4.4x4.1x9.7x9.6x
Netflix$45B$30B5.9x5.3x8.9x16.2x
Disney$94B$19B2.6x2.4x13.4x11.0x
Spotify$19B$2.4B5.9x5.3x47.9x34.8x
Comcast$124B$46B1.3x1.4x3.6x4.9x

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Common questions about Chushou

When was Chushou founded?Chushou was founded in 2015.
Where is Chushou headquartered?Chushou is headquartered in Shanghai, China.
Is Chushou publicly listed?No, Chushou is a private, VC-backed company.
How much funding has Chushou raised?Chushou has raised $186M across 3 funding rounds.
What was Chushou's last funding round?Chushou's last funding round was a $8M Series A in November 2018, led by iQIYI and Qiming Venture Partners.
Who are Chushou's investors?Chushou's investors include Qiming Venture Partners, AlphaX Partners, Shunwei Capital, GGV Capital, iQIYI and Alphabet.
What is Chushou's revenue?Chushou's latest recorded revenue is $14M (January 2018).
Which companies are comparable to Chushou?Companies comparable to Chushou include SoundCloud, DouYu, mobli, EloElo, Patreon and RUM Group.

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