IDG Capital Leads $73M Strategic Investment In iQiyi Sports

iQiyi Sports, the sports platform of Chinese online video firm iQiyi, has raised a RMB500 million (US$73 million) strategic investment led by IDG Capital. Chinese local private equity Huiying Borun Fund also participated in the deal. Just the day before, iQiyi and Super Sports Media Inc. announced the establishment of a joint venture company, Beijing Xinai Sports Media Technology Co., Ltd., to operate the iQiyi sports platform. The original Super Sports App was renamed as iQiyi Sports. IDG Capital subscribed …

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