17 receives US$23m from LeSports

Taiwan-based live streaming app 17 announced that it has received an RMB 150 million (US$23 million) investment from LeSports Innovation Fund to expand its market in China.

In its early year financing, the app also received investments from chairman of Prometheus Capital Wang Sicong and Infinity Venture Partners.

Launched last year by Jeffery Huang, the social webcasting app provides users with live broadcasting services. It has managed to snatch celebrities from Taiwan, Hong Kong, Singapore and Malaysia. As claimed by the platform, a popular webcasting presenter on 17 can make as much as US$6,000 every month.

17 has also secured a strategic partnership with LeSports on smart hardware as well as diversified User Generated Content (UGC).

As Jeffery Huang said, “17 will keep offering good services to our numerous social webcasting users while working with LeSports to provide diverse content covering entertainment, sports, games, movies and culture & creativity, and to explore more ways to interact on the platform.”

Source: marketing-interactive.com 

Proofread by Sean O Diobhilin.