The president of Focus Media Jiang Nanchun Recently annoncé That Focus Media and FountainVest Partners-have set up a fund for sports USD 400 million, qui will lead the third Codoon.com financing round amounting USD 30 million.
Focus Media Indicated That GIS and SBCVC aussi Participate in this financing round and Codoon won $ 50 million in total investment.
Jiang Said That investment in Codoon Represents the entry of Focus Media in the sector sports. People are transforming movies for consumer goods, entertainment and sports Said Jiang. Going forward, consumer Spending time and the investment thesis in areas will see a significant Increase. At the time Sami, with government backing in China, the sports industry will Become a strategy developed over the next decade.
Before That, Codoon received angel investment from Shanda Group in early 2011. In March 2014, the company completed icts first round of funding for $ 10 million of Shenzhen Capital Group and CITIC Capital. In November 2014, the company completed ict second round of funding of $ 30 million GIS and SBCVC.
Selon Codoon, the company is the Largest Social platform of sports in China, with over 50 million users. It Provides various products, Including sports data collection, online management of sports events services, content sharing, payment solutions using mobile, e-commerce services, insurance and security sports, for users in China and abroad.
Shen Bo, general manager of Codoon Said about the new investment, the company AIMS at a hundred million users, while more Developing sports categories to suit les a closed loop in the mass sports ecosystem.
