VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
Suning Sports, the sports umbrella of Chinese e-commerce company Suning, started a USD-300-million Series A financing at the beginning of 2018, according to ebrun.com, a Chinese e-commerce outlet.
CMC and YF Capital invested in this round of financing and is expected to be completed over the next two weeks. The investments will be used for media rights purchase, marketing promotion, program production and retail expansion.
On March 31, Zeng Gang, Media Vice President of Suning Sports, confirmed this news by telling Tencent “more details will be disclosed later.”
At the same time, Suning denied the earlier reports about their plan to sell Inter Milan. “As a response to recent reports, we would like to make it clear that we have never considered selling Inter Milan. Our only focus at present is on the Serie A championship.”
Suning Sports sees sports media, smart devices, soccer training and commercial retail as their four major business pillars. They aim to create a smart sports community to meet the demands of 600 million Chinese sports users in viewing experience, intelligence, interaction, equipment, training and fitness.
Source: erun, ifeng & stock.cnfol.com
Proofread by William Logsdon
Related coverage
WWE to launch pay-per-view service in China
15 Aug 2017
17 Nov 2016
Suning leads RMB 32m investment in sport data company
03 May 2016
PPTV signs exclusive multi-year deal with WWE
17 Jun 2016
Suning close to buying into Inter Milan
02 Jun 2016
More from Yutang Sports
IWGA to confirm the World Games host
11 Apr 2024
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023
Reasons why Leading Gold Partner Sport Event Denmark returns to SportAccord every year
08 Feb 2024
Interview with Nicolas Maurer: Becoming Mainstream and at the Forefront of French Esports Industry
04 Oct 2023
HealthAccord spotlights mental health and female athlete well-being
08 Feb 2024
Yutang Sports
loading...