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January 13, 2017

Struggling LeEco gets $2.4 billion investment lifeline from Chinese real estate company

by John_A

LeEco has gotten some much-needed cash from a new investor.

LeEco has been struggling financially as of late as it expands globally, but Chinese real estate holding company Sunac China Holdings seems to have faith in the company as it acquired stakes in three LeEco businesses for 16.8 billion yuan, or about $2.4 billion.

leeco-lemall-launch.jpg?itok=1-skgVGd

Sunac acquired relatively small stakes in LeEco’s video streaming service and film production unit, alongside a 33% stake in LeEco’s television hardware subsidiary. LeEco has had some interesting TVs of late, but the company as a whole has struggled to prove itself in global markets, especially in the U.S., and the company has undergone shake-ups, layoffs and has overextended itself, leaving the future of the company uncertain as it continues to refine and condense its plans going forward.

An investment like this is a considerable vote of confidence, but it still remains to be seen if LeEco can put it to good use. We can only hope.

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