Alibaba, Wanda heads’ investment firms lead $129 mln fundraising in LeTV sports firm

May 13, 2015 creative 451-37-million, alibaba-group, ceremony-during, debut, jianlin, leshi-internet, stock-exchange, wanda, wanda-group

BEIJING/SHANGHAI (Reuters) – Wanda Group's Wang Jianlin and an investment firm founded by Alibaba Group Holding Ltd's Jack Ma took part in a 800 million yuan ($129 million) funding round for a little-known sports entertainment company backed by local tech firm LeTV. The funding, conducted in two parts, valued LeTV Sports at about 2.8 billion yuan ($451.37 million), Leshi Internet Information & Technology Corp Beijing (LeTV) said in a statement on Wednesday.

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Alibaba, Wanda heads’ investment firms lead $129 mln fundraising in LeTV sports firm