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- iQiyi Sports
iQiyi Sports Valuation, Funding & Investors
iQiyi Sports is valued at $486M as of September 2018.
Last iQiyi Sports valuation
$486M
Series A · Sep 2018
Last iQiyi Sports funding round
$51M
Series A · Sep 2018
Cumulative funding iQiyi Sports raised
$124M
across 2 funding rounds
Key investors in iQiyi Sports
IDG Capital
Yao Capital
China Sports Capital
Huiying Financial Service
About iQiyi Sports
iQiyi Sports is a Beijing-based streaming service under iQiyi providing live and on-demand sports content including football, basketball, and esports events. It covers Chinese Super League matches and international tournaments via its dedicated platform. Launched as part of iQiyi's diversification, it integrates with the parent company's video ecosystem.
Founded
2010
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Valuation
$486M (Sep 2018)
iQiyi Sports Valuation
iQiyi Sports is currently valued at $486M, based on its Series A in September 2018.
The $51M round was led by China Sports Capital, with participation from Yao Capital.
iQiyi Sports' valuation has grown 1.1x from $435M at its Series A in August 2018 to $486M in September 2018, across 2 priced rounds.
iQiyi Sports valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2018 | Series A | $486M |
| Aug 2018 | Series A | $435M |
iQiyi Sports Funding History
iQiyi Sports has raised a total of $124M across 2 funding rounds.
iQiyi Sports' first fundraising round was a $73M Series A in August 2018. The most recent completed round was a $51M Series A in September 2018.
iQiyi Sports funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2018 | Series A | China Sports Capital (lead); Yao Capital | $51M | $486M | iQiyi Sports is an online sports broadcasting platform and joint venture between iQiyi, China's major video streaming service, and Super Sports Media, a subsidiary of DDMC Group holding exclusive rights to events like the English Premier League, UEFA Nations League, Australian Open, ATP Tour, and WTA Tour in mainland China. Formed in late July or August 2018 and operated by Beijing Xin'ai Sport Media Technology Co. Ltd., it integrates iQiyi's technological capabilities and subscriber base with Super Sports Media's sports content expertise to expand coverage in football, tennis, and golf. The Series A round, completed around September 6, 2018, raised a total of RMB 850 million across two tranches: RMB 500 million in July (including RMB 400 million from IDG Capital for 13.33% stake and RMB 100 million from Huiying Borun for 3.33% stake) and RMB 350 million in the second tranche from lead investor China Sports Capital (RMB 300 million or ~$43.8 million) and Yao Capital (RMB 50 million or ~$7.3 million). Post-money valuation reached RMB 3.35 billion (~$489.5 million USD), as estimated after the full round. Funds are allocated to enrich sports content, IP, and services amid China's sports industry projected to hit RMB 5 trillion by 2025. iQiyi, backed by Baidu and public in the U.S. earlier in 2018, had 67.1 million subscribers including 66.2 million paid by June end, supporting the venture's growth. The platform aims to leverage synergies for unmatched sports entertainment, with investors like China Sports Capital (Sequoia China and China Media Capital JV) betting on sports streaming growth. |
| Aug 2018 | Series A | Huiying Financial Service (lead); IDG Capital (lead) | $73M | $435M | iQiyi Sports (officially Beijing Xin'ai Sport Media Technology Co. Ltd.) is a joint venture between China's largest video streaming platform iQiyi and Super Sports Media, formed in late July 2018. The platform aggregates sports broadcasting content including English Premier League, UEFA Nations League, Australian Open, ATP Tour, and WTA Tour events, positioning itself as a premium sports streaming service in the Chinese market. In August 2018, the company secured its initial funding tranche of 500 million yuan (approximately $73.1 million) from IDG Capital and an affiliate of DDMC Group. IDG Capital invested 400 million yuan for a 13% stake, while the DDMC-related firm invested 100 million yuan for approximately 3% stake. Following this, a second tranche of 350 million yuan ($124.3 million) arrived in September 2018 from Yao Capital and China Sports Capital (a joint venture between CMC Capital Partners and Sequoia Capital), bringing total early funding to 850 million yuan. According to Beijing Xin'ai CEO Yu Lingxiao, the two tranches valued the company at approximately 3.4 billion yuan (post-money from both rounds) or roughly 3 billion yuan (post-money valuation after the first tranche in August). iQiyi, backed by Baidu and itself recently public in the U.S. market, contributed existing IP and resources to support growth. The timing coincided with intense competition among Chinese digital platforms to secure premium international sports rights as user appetite for sports content accelerated. |
Who has invested in iQiyi Sports?
4 investors have backed iQiyi Sports across its funding rounds, including IDG Capital, Yao Capital, China Sports Capital and Huiying Financial Service.
Lead investors include China Sports Capital, Huiying Financial Service and IDG Capital.
iQiyi Sports Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Sep 2018 | ||
| 1 | Lead | Sep 2018 | ||
This data is available for Pro users. Sign up to see all 4 iQiyi Sports investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialInvestments by iQiyi Sports
iQiyi Sports has invested in 1 company to date.
Latest investment by iQiyi Sports was on December 6th 2016. iQiyi Sports invested in Miaohai in their $3M Angel round.
Latest Investments by iQiyi Sports
| Description | Miaohai is a Beijing-based social media platform dedicated exclusively to sports, enabling players and fans to share short videos of matches and highlights. It integrates real-time betting features and comprehensive statistics dashboards for international sports like soccer and basketball. The service supports multilingual content and collaborates with global leagues in Europe and Asia to distribute official clips. Launched in 2018, Miaohai has developed mobile apps for iOS and Android, facilitating cross-border partnerships with European football clubs and Asian basketball associations. |
| HQ Country | |
| HQ City | Beijing |
| Deal Date | 6 Dec 2016 |
| Round | Angel |
| Raised | $3M |
| Investors | Tengxun Touzi; Lianke Chuangying Technology Development; Yingsheng Venture Capital; Jiangboya Instrument Accessories; CMC Capital Group; Beijing Sharetimes Technology |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all iQiyi Sports investments and their VC round multiples. Start Free Trial | |
iQiyi Sports Competitors
iQiyi Sports competitors include listed companies like HUYA and MNC Digital Entertainment, and private ones like Panda TV, Pocket FM, Brut and NewsBreak.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $360M | - | ||
| Private | $150M | - | $750M | 5.0x | ||
| Private | - | - | $261M | - | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $970M | ($27M) | $470M | 0.1x | ||
| Publicly listed | $216M | $73M | $1B | - |
iQiyi Sports Public Comps
iQiyi Sports is still privately-owned, but its public comps include AMC Global Media, Wirtualna Polska, HUYA, Bemobi, Weathernews, Sichuan Newsnet Media, Value Line, m-up holdings, TVZone Media and Viaplay.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.3B | $1.2B | 0.8x | 0.8x | 1.5x | 4.4x | |||
| $585M | $102M | 1.4x | 1.3x | 8.1x | 5.6x | |||
| $970M | ($27M) | 0.1x | 0.1x | (4.2x) | 11.3x | |||
| $330M | $51M | 1.2x | 2.4x | 7.8x | 7.2x | |||
| $157M | $38M | 2.9x | 2.9x | 11.9x | 11.9x | |||
| $46M | $14M | 7.0x | - | 22.5x | - | |||
| $33M | $29M | 8.5x | - | 10.0x | - | |||
| $204M | $33M | 1.3x | 1.3x | 8.3x | - | |||
This data is available for Pro users. Sign up to see all iQiyi Sports competitors and their valuation data. Start Free Trial | ||||||||
Common questions about iQiyi Sports
| When was iQiyi Sports founded? | iQiyi Sports was founded in 2010. |
| Where is iQiyi Sports headquartered? | iQiyi Sports is headquartered in Beijing, China. |
| Is iQiyi Sports publicly listed? | No, iQiyi Sports is a private, VC-backed company. |
| What is iQiyi Sports' valuation? | iQiyi Sports was last valued at $486M in its Series A in September 2018. |
| How much funding has iQiyi Sports raised? | iQiyi Sports has raised $124M across 2 funding rounds. |
| What was iQiyi Sports' last funding round? | iQiyi Sports' last funding round was a $51M Series A in September 2018, led by China Sports Capital. |
| Who are iQiyi Sports' investors? | iQiyi Sports' investors include Yao Capital, China Sports Capital, IDG Capital and Huiying Financial Service. |
| Which companies are comparable to iQiyi Sports? | Companies comparable to iQiyi Sports include Panda TV, Pocket FM, Brut, NewsBreak, HUYA and MNC Digital Entertainment. |
| How many companies has iQiyi Sports invested in? | iQiyi Sports has invested in 1 company, including Miaohai. |
| What was iQiyi Sports' last investment? | In December 2016, iQiyi Sports invested in Miaohai's $3M angel round alongside Tengxun Touzi, Lianke Chuangying Technology Development, Yingsheng Venture Capital and 3 other investors. |
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