Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
CITIC Guoan Information Industry, a subsidiary of CITIC Guoan Group, has announced a $20m investment in NextVR, which will give CITIC a 2.27% stake.
NextVR is a US-based virtual reality live streaming company valued at approximately $ 800 m. It is a leader in the production of VR content and technology.
CITIC Guoan Group, is a wholly owned subsidiary of Chinese state-owned investment company CITIC Group Corporation. Its business focuses include fixed-line television investments, network systems integration, software development, travel, real estate, high technology and resource development.
The Chinese Super League side Beijing Guoan Football Club is also a subsidiary of the CITIC Guoan Group. This move will enable Guoan fans to have a better viewing experience in the near future.
As CITIC Guoan Group have stated, the investment in NextVR provides an opportunity to gain a direct connection to a leading business and technology team in the VR industry.
Source: Sina
Proofread by Sean O Diobhilin
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
2017 TOP 50 Most Influential Sports Brands in China released
08 Jan 2018
CSL still have a long way to catch up with ‘big five’
30 Sep 2015
Ten predictions for 2015 Chinese sports industry
04 Jan 2015
Budweiser and NFL to jointly tap Chinese market
26 Jan 2016
Alisports, Shiqi ally with Tongling in smart sports town
30 Aug 2017
More from Yutang Sports
Leading legal minds tackle athlete representation and rules for transgender athletes at LawAccord
16 Feb 2024
SPORTACCORD 2024 INSIGHTS: Major Technology Trends Shaping Sports Sector
03 Jun 2024
SportAccord 2024 - sport as a ‘powerful, transformative tool’ under spotlight at CityAccord
29 Mar 2024
SPORTACCORD 2024 INSIGHTS: Harnessing the Soft Power of Sport
13 May 2024
Registration open - SportAccord World Sport & Business Summit
18 Dec 2023
Yutang Sports
loading...