Panda was raising funds publicly this time.
Pu Si planned to lead this round with forty million US dollars, partly because Little Wang was determined to go all in.
On the other hand, the market wasn't really buying into Panda's valuation of five hundred million dollars.
If three days ago, Panda had been the only player in the live streaming marketing game, a valuation of five hundred million dollars would have seen capital flocking.
But today, three days later, Douyu had rapidly caught up with ferociously rising transaction volumes and support from Tencent Capital, causing Panda to gradually lose its first-mover advantage.
According to Little Wang's estimates, including the twenty million US dollars invested by Lu Liang, the total was only around sixty million US dollars. To solidify the valuation, he had to ensure a follow-up investment of forty million US dollars.
