At that time, LeTV Sports invested 48,709.610.4 million yuan, and shouted a resounding slogan of "LeTV Sports, let everyone participate in sports better", and announced that it would build an IP operation+content platform+Internet service+intelligent sports company. Due to the prosperity of Jia Yueting, LeTV Sports received 800 million yuan in Series A and A+ financing only one year after its establishment, and the company's valuation reached 2.8 billion yuan. After another year, LeTV Sports completed the 8 billion yuan Series B financing, and the company's valuation was 21500 million yuan.
Such an amazing development speed cannot be separated from the support of many stars. In the B round of financing, many star investors such as Wang, Zhou Xun invested about 200 million yuan, including 50 million yuan, while Huang Xiaoming, Sun and others invested in LeTV Sports and LeTV Film at the same time, which has caused heavy losses so far.
With the support of many stars and capitals, LeTV Sports "floated" and started the crazy "buy buy Buy" mode. He has won the copyrights of AFC Champions League, Super League, Champions League and Premier League, including exclusive resources of new media. By the middle of 20 16, letv sports has obtained 3 10 copyrights of top-level events in the world, with an exclusive resource of about 70%.
However, in 20 16, letv sports exposed the news of overall layoffs. By 20 17, letv sports has gradually lost the right to broadcast major events before, and it has also been exposed by public opinion that there is a shortage of funds. Although LeTV Sports once released the news of financing during this period, it was subsequently sued for breach of contract, and copyright disputes and lawsuits occurred one after another. Letv Sports has changed from a "hot potato" to an "abandoned child", and Jia Yueting will also transfer most of its shares.
By 20 18, when Lei, the chairman of LeTV Sports, resigned from all related positions of LeTV Sports, LeTV Sports had obviously become a "hot potato". Excessive purchase of various copyrights before, burning too much money led to irreparable later. After that, LeTV Sports was applied for arbitration by several shareholders, and the investors' money was naturally gone.
Today, LeTV Sports is still selling its assets. From the high-profile scenery a few years ago to the desolation today, coupled with a lot of mess to deal with, the "encounter" of LeTV Sports and even the whole LeTV is embarrassing. Now many fields of the Internet are trying their best to get more capital and bigger IP. However, if we look at the example of LeTV, we will find that capital and IP alone cannot guarantee a stable life.
In terms of capital, Jia Yueting has never been a loser, not to mention the financing that LeTV got at its peak. Even when it went downhill, Jia Yueting was able to "fool" Sun Hongbin, Xu Jiayin and other big shots into it, and his ability was absolutely not bad. But no amount of money can erase the decline of LeTV and the fact that Jia Yueting has repeatedly broken his promise. Although Jia Yueting still hasn't given up his dream of building a car, I'm afraid it's just his own carnival.
Looking at the so-called IP, getting high-profile support from many stars is the most favorable IP. Invited the most popular people who can attract traffic for a long time, and there was no result in the end. The stars' investments have all fallen on Shui Piao, which is not worth the loss.
Since capital and IP are unreliable, how can enterprises survive for a long time in the world of the Internet? Now the Internet is out of fashion, such as "gimmicks" and "burning money". Through tempering and habit cultivation, users can better understand the essence of Internet products, and the requirements for content are also rapidly increasing. Therefore, as an Internet company, it is necessary to do a good job in products and content and take every step in a down-to-earth manner in order to avoid ending up like LeTV.