China-based e-commerce group Alibaba launched a sports technology group on Tuesday in conjunction with online media company Sina Corporation and Yunfeng Capital, the private equity firm founded by Alibaba chairman Jack Ma.
Alibaba Sports Group will combine e-commerce, media, marketing, video, home entertainment and cloud computing technologies into an internet-based, consumer-focused sports platform covering aspects of the sports industry including sporting copyrights, sports media, events and ticketing.
The unit has not revealed precisely how much of its activity will involve investments in startups, but the presence of Yunfeng in the consortium suggests there will be at least some funding of private companies.
Alibaba will be the majority investor in Alibaba Sports Group while Alibaba CEO Daniel Zhang will act as chairman. Zhang Dazhong, previously a vice president of media firm Shanghai Media Group, will be the group’s chief executive.
Zhang said: “Sports has the enduring ability to create shared happiness and encourage healthy lifestyles.
“Alibaba Sports Group aims to transform the China sports industry through the use of Internet-based technologies to bring greater and better products and services to consumers, sports participants and sports fans alike.”