Is One Championship reeling from the blows?

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Hello readers,

Are you into sports? I very much am, particularly basketball, football and, on occasion, running. But while highlight videos of Luka Doncic breaking the ankles of a defender multiple times in the same possession or Cristiano Ronaldo jumping like a salmon to power another header into the goal are great fun to watch, my love stems from actually participating and being in the heat of the moment. When you’re acting almost on instinct, making split-second decisions, and pushing yourself just one inch more – there’s nothing like it. The physical and spiritual become one and suddenly everything in this unpredictable world makes perfect sense.

(Can you tell that I have creative writing ambitions?)

Waxing lyrical aside, the business of sports is where things get complicated. That’s something One Championship now appears to be experiencing firsthand. It’s facing criticism and doubt over its business practices, growth prospects, and internal culture. That said, its viewership numbers are on the up and even detractors agree that the company’s pivot to more diverse content – such as its in-house edition of The Apprentice – is a smart move.

Like I said, it’s complicated – read the full story to get a well-rounded view on the mixed martial arts titan.

Today we look at,

• The many challenges that One Championship has to battle
• Funding for Indonesia’s Fundtastic
• Other newsy highlights such as a potential SPAC IPO for the firm of Facebook’s co-founder, and the semiconductor industry becoming the latest battleground in the tech war between the US and China

PREMIUM SUMMARY

Is One Championship the prize fighter it portrays itself to be?

When you’re as high-profile as One Championship and its founder Chatri Sityodtong, you’re bound to get your fair share of haters and criticism. But is it a case of “no smoke without a fire” for the company?

• Sponsorship troubles: Acquiring sponsorship deals has been one challenge for the firm, and as a result, at least half of the company’s commercial deals up to mid-2020 consisted of in-kind, non-cash revenue. That’s according to two former employees, one of whom is familiar with the company’s sponsorship sales.
• Successful pivots: That said, the firm has adapted to Covid-19 restrictions on its live events, creating clips from its archived content to cater to new viewing habits as well as producing a show, The Apprentice: One Championship Edition, to reach a wider audience.
• Global plans still on the table: One Championship group president Hua Feng Teh highlights the company’s presence in both Asia – where he says advertising spend on sports properties is growing quickly – and the more mature US lets it “pick and choose on how to monetize a specific market.”

Read more: Are One Championship’s fiercest critics right about the company?

Fundtastic stays true to its name with the close of its series A round

This Rocket Internet-backed coffee startup plans to conquer Asia