Media reveals information about LeSports second funding

A section called Baidu Baijia which belongs to the famous Chinese search engine Baidu, revealed a material about the B round funding of LeSports. 

The material shows that the company plans to get ¥RMB3 billion for this round of funding, which would be primarily used for the purchase of rights, production of content, acquisitions and team building. The stock holders involved are said to include China Life, Lenovo, CCB International, the boss of LeTV Mr Jia Yueting, among a few other corporations. 

LeSports is expected to be list public in 3 years or 5 years. If they failed to do so, stock holders would have the right to require the big stock holder to purchase their shares. 

2016 is said to be the year that LeSports reach financial balance, and 2017 is said to be the year when LeSports starts to have profits. 

In 2015, the company planned to have ¥RMB500 million turnover, of which ¥RMB300 million should have come from advertisements, ¥RMB100 million from sports events management, and ¥RMB100 million from smart devices. 

LeSports has not officially announced their B round of funding, but as the company had many significant moves since the summer of 2015 when they had the A round of funding, there have been many speculations and attentions about the next funding.

Source: Baidu.com