From VELA chat12 Oct 2020 22:48
https://www.bloomberg.com/news/articles/2020-10-12/huya-agrees-to-buy-douyu-to-create-chinese-game-streaming-giant
‘Tencent Holdings Ltd which currently owns stakes in both companies, will hold about 68% of the merged businesses voting shares, giving the WeChat operator control over a live -streamed gaming leader akin to Amazon.com Inc.’s Twitch.’
Now then MODE who we have just invested quarter million in are involved as below...from the RNS released by VELA last week...aha says I (not in an Alan Partridge voice) I’m joining up the dots and seeing a very lucrative picture imho..
Mode is a UK-based fintech group, building a modern financial services business to support an increasingly digitised economy and financial system, combining banking, payments, investment, customer loyalty and digital assets. Its business today comprises:
· Mode app - a digital banking app that allows users to manage their traditional and digital assets all in one place.
· Bitcoin Jar - one of the highest-yielding and most flexible interest-generating accounts for Bitcoin in the market (accessible through the Mode app).
· Business payments (WeChat and Alipay) - payment processing services for UK and European businesses to tap into the Chinese market. Mode has secured key partnerships with Tencent (owner of WeChat) and Alipay.
· Business marketing services (WeChat) - marketing and social media services for UK and European businesses on one of China's most popular communication apps.