After an aggressive and bold move by acquiring the broadcast rights to over 200 blue-ribbon sports events, Le Sports has now been defined by many Chinese media as “Unicorn” company, but Le Sports CEO Lei Zhenjian said the company is just a startup with the entrepreneurship to challenge and eventually make a difference in Chinese sports market.
Currently, the growing focus on sports industry has heated up the competition in the sector. We’ve seen many Chinese internet giants like Tencent and Alibaba has ramped up their investment in sports business as well as the likes of Wanda. Wanda has earned itself louder voice through several big-money-spending takeover deals.