Alisports, the sports affiliate of China-based e-commerce firm Alibaba, received $190m from China Taiping Insurance, while announcing an acquisition of its own.
Alisports, the sports subsidiary of e-commerce group Alibaba, completed a RMB1.2bn ($190m) series A funding round supported by a host of investors. Yunfeng Capital, the investment firm co-founded by Alibaba’s executive chairman Jack Ma, led the round, which also featured local insurance firm China Taiping Insurance. The transaction reportedly valued Alisports at $1.3bn.
Founded in 2015, Alisports runs a professional sports platform integrating e-commerce, media, marketing, cloud computing and video. It targets areas such as ticketing, events management and copyright.
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