SPORTACCORD 2024 INSIGHTS: Sport’s Perfect Storm
23 May 2024 14:34
Le Eco President and CEO Jia Yueting officially announced at the China (Shenzhen) IT Summit that Le Sports, the sports unit of Le Eco, has raised RMB8 billion from investors in Series B fund raising, according to various media reports.
Tencent Finance says over 30 investors, including investment enterprises and individual investors, have committed RMB8b to Le Sports, making the company valuation soar to RMB21.5 billion.
With the money raised, Le Sports will upgrade its content platforms and develop smart equipment. Furthermore, the company will try to add more services in order to encourage a broader variety of users to participate in sports.
As reported earlier, China’s HNA Group has investedRMB1.2 billion in Le Sports while several entertainment celebrities have also become shareholders of the company. Le Sports is set to unveil more details in mid-April when the company will hold a press conference in Beijing.
Source: Tencent
Proofread by John Devlin.
Interview with Thomas Lund: to follow new trends and bring younger generations to the sport
17 Jun 2024 16:00
Related coverage
Purchase of Chongqing Basketball Club close to an end
15 Jun 2015
Boao Forum holds first ever sports sub-forum
24 Mar 2016
2015 in review: the sports business in China (I)
29 Dec 2015
12 Jul 2015
Two Chinese clubs set to join Russian-led ice hockey league
04 Dec 2015
More from Yutang Sports
Interview with Yiannis Exarchos: to narrate Olympic story in new ways and promote positive values
01 Jul 2024
SPORTACCORD 2024 INSIGHTS: Major Technology Trends Shaping Sports Sector
03 Jun 2024
SPORTACCORD 2024 INSIGHTS: Sport’s Perfect Storm
23 May 2024
SPORTACCORD 2024 INSIGHTS: Touchdowns, Home Runs and Slam Dunks
12 Jun 2024
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024
Yutang Sports
loading...