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Alibaba Group launches dedicated sports venture
Chinese e-commerce giant Alibaba Group has entered into a partnership with media corporation Sina and private equity firm Yunfeng Capital to establish Alibaba Sports Group, a venture that aims to “transform” the country’s sports industry.
Alibaba Group Chief Executive Daniel Zhang will serve as Chairman of his company’s new majority owned entity, with former Shanghai Media Group Vice-President Zhang Dazhong becoming Alibaba Sports Group’s Chief Executive.
Alibaba Sports Group will develop an internet-based sports platform to enhance consumers and sports fans’ engagement with sports teams and brands. It will integrate e-commerce, media, marketing, video, home entertainment and cloud computing among other internet-enabled technologies.
It aims to leverage Alibaba Group’s vast e-commerce ecosystem, Sina’s media resources and Zhang’s experience with China’s new media and sports sectors through the new venture.
The parties involved have not made any announcements in relation to content that will be produced or distributed at this stage.
Commenting on the new venture, Zhang stated “sport has the enduring ability to create shared happiness and encourage healthy lifestyles.
“Alibaba Sports Group aims to transform the China sports industry through the use of Internet-based technologies to bring greater and better products and services to consumers, sports participants and sports fans alike.”
Over the past six months, leading European football clubs Bayern Munich and Real Madrid, along with NBA basketball star Kobe Bryant, have agreed partnerships with Alibaba.
The company is also a 40% stakeholder in Chinese Super League football team Guangzhou Evergrande.
31st August 2015 - SOCIAL MEDIA BOOSTS CONSUMER ADOPTION OF ‘ACTIVE’ LIFESTYLES
24th August 2015 - ADIDAS TO SUPPORT GRASSROOTS FOOTBALL DEVELOPMENT IN CHINA
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