Alisports Group, the sports affiliate of Alibaba Group Holding Ltd. has completed a RMB1.2 billion (US$190.78 million) series A round led by Yunfeng Capital, an investment firm co-founded by Alibaba’s executive chairman Jack Ma. The round values Alisports at RMB8 billion (US$1.27 billion), the company said at a press conference in Beijing on Tuesday. China Taiping Insurance Holdings also participated in the round. Alisports disclosed the investment at the same time as it announced that it has acquired online fitness …

Alibaba’s Alisports Gets $191M At $1.3B Valuation, Buys Fitness App Ledongli appeared first on China Money Network.


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