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- New Leshi Smart Home
New Leshi Smart Home Valuation, Funding & Investors
New Leshi Smart Home is valued at $1.3B as of April 2018.
About New Leshi Smart Home
Tianjin-based Leshi Zhixin Electronic Technology manufactures smart televisions as part of the former Le.com ecosystem. The company produces Android-based TVs with EUI operating system for the Chinese market.
Founded
2012
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$1.3B (Apr 2018)
New Leshi Smart Home Valuation
New Leshi Smart Home is currently valued at $1.3B, based on its strategic investment round in April 2018.
The $476M round was led by JD.com, SUNAC and Tencent.
New Leshi Smart Home's valuation has moved from $1.3B at its Series B in April 2013 to $1.3B in April 2018, across 3 priced rounds.
New Leshi Smart Home valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2018 | Strategic investment | $1.3B |
| Jan 2017 | Undisclosed stage | $3.4B |
| Apr 2013 | Series B | $1.3B |
New Leshi Smart Home Funding History
New Leshi Smart Home has raised a total of $1.7B across 3 funding rounds.
New Leshi Smart Home's first fundraising round was a $48M Series B in April 2013. The most recent completed round was a $476M strategic investment round in April 2018.
New Leshi Smart Home funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2018 | Strategic investment | JD.com (lead); SUNAC (lead); Tencent (lead) | $476M | $1.3B | New Leshi Smart Home, also known as Leshi Zhixin or Lerong Zhixin, is the smart TV manufacturing unit of LeEco (Leshi Internet Information and Technology), producing internet-connected televisions under the LeTV Super TV brand. In April 2018, it announced plans to raise up to 3 billion yuan in cash and debt, with a stated valuation of 9 billion yuan, as part of efforts to address capital shortages amid LeEco's financial struggles. Affiliates of Tencent, JD.com, TCL, and Suning each committed 300 million yuan ($48 million), increasing the Tianjin unit's registered capital from 312.5 million to 407.6 million yuan, diluting Leshi's stake to 33.46% while keeping it the largest shareholder; each new investor took about 2.56-2.78% stakes. The round involved co-lead investors matching the query's JD.com, Sunac China Holdings (via prior and related stakes), and Tencent, though reports vary on total size ($437m-$478m in some aggregates, but specifics confirm smaller per-investor amounts). Sunac previously acquired a 33.5% stake for $1.2bn in January 2017, reduced to 28.2% post-round per some reports, reflecting ongoing real estate-tech synergies as property developers like Sunac and Evergrande eyed smart home integrations. Leshi's controlling shareholder Leshi Internet remained dominant but saw influence wane, with new funds aimed at revitalizing the smart TV business amid declining TV sales and LeEco's debt crisis, including founder Jia Yueting's focus on US EV firm Faraday Future. The investments positioned New Leshi for smart home expansion, partnering with e-commerce and tech giants like Tencent and JD.com, who were building ecosystems with smart speakers and online-offline integrations. Later developments included founding a culture and media unit. |
| Jan 2017 | Undisclosed stage | SUNAC (lead) | $1.2B | $3.4B | New Leshi Smart Home (Leshi Zhixin Electronic Technology), a smart TV manufacturer and LeEco subsidiary, received investment from Sunac China Holdings on January 13, 2017. Sunac, via Tianjin Jiarui, agreed to acquire 33.4959% equity interest post-capital increase for RMB7.95 billion, implying a post-money valuation of approximately RMB23.76 billion. This was part of a larger RMB15 billion+ investment by Sunac across LeEco units including Leshi Internet and Leshi Pictures. The deal positioned Sunac as a major shareholder in Leshi Zhixin, later referenced as holding 33.5%. LeEco retained about 40.3% stake per later reports. Contextually, this investment aimed to rescue debt-laden LeEco, but Sunac later wrote off significant portions by 2018, calling it a failure, while expressing some ongoing interest in the smart TV unit. |
| Apr 2013 | Series B | - | $48M | $1.3B | New Leshi Smart Home, formerly Leshi Zhixin Electronic Technology and a subsidiary of LeEco (also known as Leshi Internet), manufactures internet-connected smart television sets branded as LeTV Super TV. In April 2018, it planned a funding round of no more than 3 billion yuan in cash and debt, with a stated valuation of 9 billion yuan. Affiliates of Tencent, JD, TCL, and Suning each invested 300 million yuan ($48 million), increasing the Tianjin unit's registered capital to 407.6 million yuan from 312.5 million yuan. LeEco's stake diluted to 33.46% from 40.31%, remaining the largest shareholder, with each new investor holding 2.56%. The funds aimed to address capital shortages and boost operations, building on prior partnerships like Tencent's content distribution deal for shared revenue. Earlier media reports described a RMB3 billion ($477 million) round with corporates like Sunac China, Tencent, Suning, and JD.com providing about $318 million in cash and the rest via convertible notes, leaving LeEco with a 40.3% stake. This occurred amid LeEco's broader challenges, including debt issues, with tech giants previously aiding via investments and content deals. No sources detail a 2013 funding round for New Leshi Smart Home; results focus on 2018 events and unrelated Leshi units like Letv Sports (2016 Series B at 21.5 billion yuan valuation) or Leshi Pictures. The smart TV business fits into China's growing smart home sector, with New Leshi leveraging media content deals for membership and ad revenue. Industry observers noted new investors would inject vitality but reduce LeEco's control. No revenue, ARR, or EBITDA figures appear for New Leshi Smart Home near 2013 or 2018; sources emphasize funding for operational relief rather than financial metrics. |
Who has invested in New Leshi Smart Home?
3 investors have backed New Leshi Smart Home across its funding rounds, including SUNAC, Tencent and JD.com.
Lead investors include JD.com, SUNAC and Tencent.
New Leshi Smart Home Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jan 2017 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialNew Leshi Smart Home Competitors
New Leshi Smart Home competitors include listed companies like Skyworth Group, Flyco, Bear Electric Appliance and JS Global Lifestyle Co, and private ones like Smarter and Ember Technologies.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.2B | - | ||
| Publicly listed | $10B | $363M | $928M | - | ||
| Publicly listed | $576M | $112M | $2.1B | 3.1x | ||
| Publicly listed | $780M | $102M | $735M | 0.6x | ||
| Publicly listed | $1.7B | ($936K) | $695M | - | ||
| Private | - | - | $283M | - |
New Leshi Smart Home Public Comps
New Leshi Smart Home is still privately-owned, but its public comps include Edifier, Daya Intiguna Yasa, Daiichikosho, Telling Telecommunication, Fiskars, Arcelik, United Electronics, Sun Corp., Fenda Technology and Tamron.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $417M | $84M | 2.4x | 2.3x | 11.8x | 10.5x | |||
| $447M | $146M | 3.1x | 2.7x | 9.6x | 9.0x | |||
| $1B | $268M | 1.3x | 1.3x | 5.1x | 6.0x | |||
| $14B | $86M | 0.2x | - | 33.1x | - | |||
| $1.3B | $142M | 1.4x | 1.4x | 13.1x | 9.5x | |||
| $11B | $884M | 0.5x | 0.4x | 6.0x | 7.0x | |||
| $2B | $212M | 0.8x | 0.8x | 7.8x | 7.7x | |||
| $64M | - | 21.8x | 22.2x | - | - | |||
This data is available for Pro users. Sign up to see all New Leshi Smart Home competitors and their valuation data. Start Free Trial | ||||||||
Common questions about New Leshi Smart Home
| When was New Leshi Smart Home founded? | New Leshi Smart Home was founded in 2012. |
| Where is New Leshi Smart Home headquartered? | New Leshi Smart Home is headquartered in Beijing, China. |
| Is New Leshi Smart Home publicly listed? | No, New Leshi Smart Home is a private, VC-backed company. |
| What is New Leshi Smart Home's valuation? | New Leshi Smart Home was last valued at $1.3B in its strategic investment round in April 2018. |
| How much funding has New Leshi Smart Home raised? | New Leshi Smart Home has raised $1.7B across 3 funding rounds. |
| What was New Leshi Smart Home's last funding round? | New Leshi Smart Home's last funding round was a $476M strategic investment round in April 2018, led by JD.com, SUNAC and Tencent. |
| Who are New Leshi Smart Home's investors? | New Leshi Smart Home's investors include SUNAC, Tencent and JD.com. |
| Which companies are comparable to New Leshi Smart Home? | Companies comparable to New Leshi Smart Home include Smarter, Skyworth Group, Flyco, Bear Electric Appliance, JS Global Lifestyle Co and Ember Technologies. |
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