China: Police arrest Chinese video game live-streaming platform DouYu CEO Chen Shaojie

The arrested person was identified as Chen Shaojie. He is the CEO of DouYu.

DouYu (DOYU) said in a regulatory filing Tuesday that its chief, Chen Shaojie, had been arrested by police in the southwestern city of Chengdu on or around November 16. The company said it had only been informed of the arrest on Monday, reported CNN.

In a statement posted on Chinese social media on Wednesday, police in Chengdu said a 39-year-old man surnamed Chen was arrested on suspicion of opening a casino, the American newspaper reported.

The arrest of his news comes just two weeks after  Cover News reported that he became unreachable.

Chen’s disappearance came about five months after the Cyberspace Administration of China launched an onsite inspection of DouYu to investigate what it called “serious” problems related to the platform, including alleged pornography and “vulgar” content, according to a May statement from the internet watchdog, reported CNN.

What is DouYu?

It is a Chinese video live-streaming service.

The site is the largest of its kind in China with 163.6 million monthly active users in 2019, as per Wikipedia page.

In July 2019, DouYu International Holdings Ltd raised $21 million through U.S. initial public offering (IPO) and it listed itself on the New York Stock Exchange (Nasdaq) with the stock symbol DOYU.

It was the largest IPO of any Chinese company on Wall Street in 2019.