Industry experts suggested that suspicions that bets were placed during live broadcasts on the platform could be linked to the disappearance, Shanghai’s state-run newspaper The Paper reported on Monday.
Capitalized by giant Tencent, DouYu is listed in the US with a market capitalization of 268 million dollars (about 250 million euros).
When asked by news agency France-Presse about Chen’s whereabouts, a company spokesperson had no comment, saying only that “DouYu’s business operations are continuing as normal.”
Chengdu-based local website “Cover News” reported that company officials did not know Chen’s whereabouts and could not be contacted.
Officials have not released any information indicating that Chen has been detained, but there are cases in China of senior corporate executives disappearing before they are announced to be under investigation.
Million dollar business under intense surveillance
Live streaming is a huge revenue stream for e-commerce companies and influencers, generating millions in China.
The government is trying to combat content it classifies as “immoral” and has launched several investigations against prominent social media platforms and well-known profiles with large followings. In May, authorities opened an investigation into DouYu over allegations that it disseminated pornographic images and other content classified as “vulgar”.
Jean Rhys is a contributor to OE Mag, covering news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on clear, accurate reporting and useful information that helps readers stay informed about current affairs and developments that matter to them. Her work highlights relevant stories, emerging trends, and key issues, presenting them in a balanced, accessible, and reader-friendly way.