The investment in LeTV Sports was led by two of China's most prominent billionaires, Alibaba founder and chairman Jack Ma and Wanda Group chairman Wang Jianlin.
Xiaomi obliterated months of rumors and blind guesses today by confirming a new US$1.1 billion round of funding.
The round is led by All-Stars Investment, a tech fund run by ex-Morgan Stanley analyst Richard Ji.
Ecommerce titan Alibaba is ploughing US$1.22 billion into Youku Tudou (NYSE:YOKU), which runs the Youku and Tudou video sites.
Back in August 2010, China’s Alibaba Group – the web company behind China’s biggest e-commerce sites – invested US$15 million in the search engine Sogou.com, a subsidiary of the web portal Sohu (NASDA...