Chinese outdoor advertising firm Focus Media, along with two other companies, has led an $81 million (RMB640 million) investment in the esports startup “Sport of the Heroes.”
Sport of the Heroes is an offline electronic video game platform owned by Chinese video gaming company Hero Entertainment. Focus Media has acquired an 8.24% stake in the platform through the startup’s first funding round.
Sport of the Heroes, established in May, boasts 400 million registered users, with 50 million daily active users. The startup intends to use the fresh capital to host more electronic video gaming competitions and further expand its gaming centers.
This news follows Chinese internet giant Alibaba’s sports arm Alisports’ announcement of its partnership with the International Esports Federation. Alibaba invested $150 million in the IeSF, aiming to improve the global recognition for esports.
Focus Media announced in April that it would invest $200 million in the sports industry.
Source: China Money Network
Proofread by Sean O Diobhilin