Alibaba Enters into Sporting Industry by Establishing a Sport Unit

Alibaba Enters into Sporting Industry by Establishing a Sport UnitAlibaba Group Holding Ltd will be establishing sports unit, which marks the e-commerce giant’s official entry into the sporting sector. The Hangzhou based company stated that Alibaba Sports Group that is controlled by Alibaba Group is part of a co investment with Sina Corp and Yunfeng Capital a private equity firm that is co founded by Jack Ma, Alibaba’s Chairman. Zhang Dazhong the former vice president of Shanghai Media Group will be assigned to head the new sports unit to act as CEO and Alibaba CEO Zhang Yong as Chairman.

The formed Alibaba Sports is aimed to generate new values and to upgrade the sports industry by using  a digital ecosystem thus highlighting the Internet role as one important part of economic growth. This will not be the first time Alibaba have branched out into the sporting sector, as of June Alibaba pent 1.2 billion yuan to purchase a 50 percent stake in Guangzhou Evergrande Football Club which was later renamed Guangzhou Evergrand Taobao.

Alibaba’s efforts came with a growing domestic appetite to create a better sport content. This is also a move that is part of the conglomerate’s broad efforts in boosting and to diversify revenue sources since the company is facing a slow growth. So far Alibaba already have investments in the entertainment and healthcare industries

Leave a Reply


The Contributor

Follow me on twitter: TriaSasin

    Connect with Jasmin:
  1. - Email: Click here

Have Your Say!

Which part of Shenzhen has the best quality of life for foreigners?

View Results

Loading ... Loading ...

  1. how can i merge google plus and facebook: Another critical feature to recognize at Plus One headquarters is...
  2. W.P: Your mother is a great woman!I hope I can have a mother like her!
  3. Sophia yu: Totally agreed that money doesn’t buy happiness
  4. Joe Hung: I think your composition is good.It is inspirational.I think you are hard working when you do this...
  5. Sugar: Thanks!