China Tech Newsletter – Apr 5th, 2016

Approximately 60,000 local businesses in countries including Japan, South Korea, Thailand, Singapore and Germany had added Alipay payment solution by early 2016.

Ant Financial Services Group, the parent company of Alipay, wants to increase the number to one million in three years.

Alipay has had 450 million verified users. (via Sina Tech)


LeSports, the online sports content and service provider of LeEco (formerly LeTV), rolls out a paid subscription service that costs RMB59 (US$9) per month or RMB590 (US$91) per year.

LeTV.com, the online video streaming service of LeEco, launched a sports channel in August 2012 and spun it off as LeSports in March 2014. In May 2015 LeSports announced RMB800 million (US$130m) in Series A round of financing at a valuation of RMB2.8 billion (about US$450m).

Update: It has recently raised US$1.2 billion Series B at a US$3.3 billion valuation.

Earlier this year LeSports acquired live sports streaming service Zhangyu.tv, a controlling stake in soccer data service SodaSoccer, and led a US$10 million funding into online lottery operator 8Win.com.

LeTV.com, which offers a wide range of live and on-demand streams, provides a monthly subscription priced at RMB19 (US$3).

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