Latest cash injection of $1.23 billion puts company on way to building sports 'ecosystem'

Internet-based company Le Sports has completed a second round of financing, worth 8 billion yuan ($1.23 billion), which analysts said gives it a significant edge over rivals.

Jia Yueting, CEO and chairman of parent company LeEco Holdings Ltd, said on Sunday its sporting offshoot is now valued at 21.5 billion yuan.