A social sports mobile application named Paidui, or Party, has recently raised US$200 million in Pre-A Round which was backed by China International soccer stars Zhang Linpeng and Wuxi.
Paidui, founded by former VP of Letv Zhang Te who also served as the secretary to President of Letv, is now valued at approximate US$20 million, Mr. Zhang said in a recent interview.
The application is expected to help sports groups find event organizations alongside to provide them with statistics and sociality.
In addition, Paidui would serve as an agency which helps grass-roots clubs monetize by selecting local sponsorships for the clubs in the future, Zhang revealed.
Having been invested and boosted by the mentioned China International duo, it would be key for Paidui to land more big names in the future.
Mr Zhang also disclosed that his team are set to undertake F5WC qualifiers and other sports events in the coming months.