China’s e-commerce giant Alibaba has founded a new company, Alibaba Sports Group, whose majority shareholder of the group is along with Yunfeng Capital and media company Sina Corporation as junior partners.
The new combination aims to promote sports in the country through a digital platform dedicated to both sports participants and spectators. The plan is the electronic integration of e-commerce, sports entertainment, marketing & media, cloud computing and services such as ticketing, events, sports media and so on.
The Alibaba Sports Group will be overseen by Alibaba chief executive Daniel Zhang who will act as chairman of the new investment. Jack Ma, founder and executive chairman of Alibaba, pointed out that health and happiness are critical for the group’s future growth, and sport is the one thing which meets both strategic aspects.