Alibaba launches sports company
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Alibaba Group’s expansion into non-eCommerce businesses such as movies and music took another step today as the group announced the establishment of a sports company, aiming to “transform China’s sports industry through Internet-enabled technologies.”
The company, named Alibaba Sports Group, will be majority owned by Alibaba Group but has backing from Sina Corp., owner of China’s popular microblogging site Sina Weibo, and Yunfeng Capital, a private equity company founded by Alibaba Executive Chairman Jack Ma.
Alibaba Sports Group will engage in sports media, events, ticketing and other aspects of the industry, leveraging Alibaba Group’s extensive e-commerce, digital entertainment, marketing, cloud computing and other Internet properties, according to an Alibaba press release.
Alibaba’s Group CEO Daniel Zhang was named chairman of Alibaba Sports. Zhang Dazhong, a veteran of China’s new media and sports industry and a former vice president of Shanghai Media Group, will serve as CEO.
“Sports has the enduring ability to create shared happiness and encourage healthy lifestyles,” said Zhang in the release. “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.”
Alibaba Group’s online shopping site Tmall.com already hosts storefronts for merchandise sold by European football clubs Bayern Munich and Real Madrid. Last month, a documentary of NBA superstar Kobe Bryant was released through Alibaba’s Tmall Set-top Box. Alibaba also has a stake in China’s leading football club Guangzhou Evergrande.
Questions & Answers
Q.What is the primary goal of the newly established Alibaba Sports Group?
What is the primary goal of the newly established Alibaba Sports Group?
The Alibaba Sports Group aims to transform China’s sports industry by using Internet-enabled technologies. This involves bringing improved products and services to consumers, participants, and fans in the sector.
Q.Which entities are backing the new sports company financially?
Which entities are backing the new sports company financially?
Alibaba Group will be the majority owner of Alibaba Sports Group. It also has financial backing from Sina Corp., which owns Sina Weibo, and Yunfeng Capital, a private equity firm co-founded by Jack Ma.
Q.What specific areas within the sports industry will Alibaba Sports Group be involved in?
What specific areas within the sports industry will Alibaba Sports Group be involved in?
The new company plans to engage in various aspects of the sports industry, including sports media, events organisation, and ticketing services. It will use Alibaba Group’s existing internet properties for these ventures.
Q.Does Alibaba Group have existing connections to the sports industry prior to this launch?
Does Alibaba Group have existing connections to the sports industry prior to this launch?
Yes, Alibaba Group already has several sports-related interests. Its Tmall.com hosts merchandise stores for clubs like Bayern Munich, and it released a Kobe Bryant documentary via Tmall Set-top Box. Alibaba also has a stake in Guangzhou Evergrande football club.
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