LeTV Sports breaks the record of financing with 800 million yuan. Why is it favored by Jack Ma and Wang Jianlin?
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Let's go back to 2012, when Jack Ma and Wang Jianlin made the famous bet - "Can e-commerce retail share account for half of the total retail share in 2020?", the two men who had both been known as the "richest men in mainland China" would never have thought that the two companies would come together because of another company. On May 13, LeTV Sports officially announced the completion of its first round of financing. The RMB 800 million raised by LeTV Sports went through two stages, A and A+. The A round was led by Wanda Investment, headed by Wang Jianlin's son Wang Sicong, and the A+ round was led by Yunfeng Fund under Jack Ma, followed by seven institutions and individuals including Dongfang Huifu and Pusi Investment. As a sports video company established less than two years ago, LeTV Sports' potential value seems to have just been released. The entertainment ecosystem is a sweet bun . Alibaba and Wanda are obviously not without signs of joint investment and optimism about LeTV Sports. Due to his personal interest in the sports industry, Alibaba, led by Jack Ma, has invested in the sports industry many times. In June last year, when resources in the domestic sports industry were tight, Alibaba invested 1.2 billion yuan in Guangzhou Evergrande Club and became another emerging boss in the sports football industry by owning 50% of the shares of Evergrande Football Club. After giving up the Dalian Wanda Football Team, Wanda returned to the football field with a new move to buy foreign football assets at the bottom. In January this year, Wanda invested in the acquisition of 20% of Atletico Madrid's shares and entered the club's board of directors. According to foreign media reports, Wanda may also acquire Swiss Infront Sports and Media Group for a purchase amount of up to 1 billion euros. In fact, the potential value and investment returns of the sports industry have become another reinvestment market that major companies are vying to favor. Data shows that the annual output value of the sports industry in the world is about 800 billion US dollars, and it is growing at a high speed of 20% per year; while the total value of the sports industry in many countries accounts for about 3% of GDP. Taking the sports industry in the United States as an example, the annual output value of the sports industry in the United States has exceeded 300 billion US dollars, but the output value of the sports industry in China is less than one-tenth of that in the United States. Behind the huge gap, it not only reflects the lack of China's sports industry, but also implies the huge development space of this emerging industry. Of course, more importantly, with LeTV's industrial expansion in the sports industry, the integration of Internet thinking and new media marketing, the industry charm led by LeTV Sports is constantly emerging. LeTV Sports' Industrial Charm Wanda Investment Chief Risk Officer Liu An said at the press conference that Wanda Investment determined its investment in LeTV Sports in a very short time, precisely because it saw its full sports industry ecological model based on "event operation + content platform + intelligence + value-added services" and LeTV Sports' huge potential in leading the Internet sports industry in the future. According to reports, LeTV Sports' copyright ownership ranks first among similar competitors, with a total of 17 sports events, 121 competitions, and an average of 4,000 live events per year; it also has strong production and broadcasting capabilities that competitors do not have, and can produce and broadcast different events such as football, basketball, tennis, golf, and marathon. In the operation of sports events, LeTV Sports has the operating rights of top events such as the International Champions Cup. By developing value-added services, LeTV Sports will focus on these world-class events. In addition to traditional advertising, it will use LeTV Mall as a platform to launch a variety of peripheral ecological paid products such as sports lottery, sports games, sports training, and sports events. This series of O2O and paid services based on the sports vertical business field will become the driving force for LeTV Sports to continuously generate more industrial value. The first cooperation with many investment institutions also made LeTV Sports CEO Lei Zhenjian look very excited and encouraged. "Letting everyone participate better in the sports industry is a dream of both LeTV Sports and myself. After the dream team of LeTV Sports business and the dream team of investors officially come together, LeTV Sports will surely create its own legend and era on the road to realizing the great dream." As the most influential sports industry event after the release of Document No. 46, LeTV Sports' financing conference also attracted many bigwigs in the sports industry, including Li Furong, former deputy director of the General Administration of Sport of China, Ma Guoli, president of Yingfang China, and Ding Wuhao, president of 361 Degrees International Co., Ltd.As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity. |
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