Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Chinese outdoor advertising firm Focus Media, along with two other companies, has led an $81 million (RMB640 million) investment in the esports startup “Sport of the Heroes.”
Sport of the Heroes is an offline electronic video game platform owned by Chinese video gaming company Hero Entertainment. Focus Media has acquired an 8.24% stake in the platform through the startup’s first funding round.
Sport of the Heroes, established in May, boasts 400 million registered users, with 50 million daily active users. The startup intends to use the fresh capital to host more electronic video gaming competitions and further expand its gaming centers.
This news follows Chinese internet giant Alibaba’s sports arm Alisports’ announcement of its partnership with the International Esports Federation. Alibaba invested $150 million in the IeSF, aiming to improve the global recognition for esports.
Focus Media announced in April that it would invest $200 million in the sports industry.
Source: China Money Network
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
Keep gains C+ strategic investment from Tencent
17 Aug 2016
Chinese magnates’ aggressive expansion into European soccer world
01 Jun 2016
Tencent and Riot Games join forces to set up eSports company TJ Sports
11 Jan 2019
LGD-Gaming raises 30 million RMB in the A Series financing round
23 May 2017
Chinese investors to acquire majority stake in Sintrense
08 Jul 2016
More from Yutang Sports
SPORTACCORD 2024 INSIGHTS: Touchdowns, Home Runs and Slam Dunks
12 Jun 2024
SportAccord 2024 makes a memorable return to Birmingham
13 Apr 2024
SPORTACCORD 2024 INSIGHTS: How Gaming is Changing our World
07 May 2024
Gender equality will be reflected at OBS's coverage of the Paris 2024 Olympic Games
16 Apr 2024
SportAccord Summit 2024 Logo Unveiled
29 Nov 2023
Yutang Sports
loading...