Suning Sports to launch Series B Funding later this year

On August 2, the Executive Vice President of Suning Sports Wang Dong disclosed during a media conference that Suning Sports plan to launch a new series of funding they expect will bring in more strategic funding, and the group plans to go public in the next 2 or 3 years.

Suning Sports business strategy mainly consists of 4 parts: sports media, sports equipment, OTT services and sports training. PP Sports is their sports media platform that has acquired the most football media rights among all Chinese sports media players, and during the last football season, has broadcasted over 8000 football matches. According to Wang Dong, the monthly active users of PP Sports have surpassed 17 million, and they claim 6 million paid users. Most of these users are males in first and second-rate cities, highly paid and highly educated, and mostly fall into the age group of 31-36.

In July 2018, Suning Sports announced their Series A funding that was lead-invested by Alibaba Group and Goldman Sachs and co-invested by Evergrande Group, Yunfeng Capital, SenseTime, Zhejiang Sports Foundation, Jiangsu Sports Foundation, CCB International, Minsheng Bank International, and ABC International.

Reference: bjnews.com.cn

Proofread by Levison Makuvise