PPTV to acquire Longzhu.com

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Suning owned PPLive Inc (PPTV) are bidding to take over two companies which originally made up Longzhu.com. They plan to acquire 100% of the first company that focuses on online streaming, and 20% of the second company which focuses on esports.

Longzhu.com was established on February 1st, 2015. It is a large domestic live streaming company and has received 300 million Yuan from Softbank and Tencent in A round of financing.

As live streaming is the hottest industry in 2016, many Chinese companies have begun to invest in it. It has also attracted the attention of many investors. Douyu TV received 1.5 billion financing from Phoenix Capital and Tencent, completing the C round of financing. Also, Inke received 80 million in the A round of financing. It was already valued at 3 billion 6 months after being set up.

PPTV has the media rights of La Liga in China. In 2015, Suning announced it was going to involve itself in the entertainment industry. It owned Suning Electronic Sports (SES), an eSports game. Users can watch SES live on mobile phones, computers and TVs. They can also watch mainstream eSports games such as DOTA2, Hearth stone, League of Legends, etc. After acquiring Longzhu.com, Suning will have two live streaming platforms, PPTV and Longzhu.com. One will focus on entertainment, while the other will concentrate on eSports games.

Proofread by Sean O Diobhilin

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