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- Suning Sports
Suning Sports Valuation, Funding & Investors
Suning Sports is valued at $2.6B as of July 2018.
Last Suning Sports valuation
$2.6B
Series A · Jul 2018
Last Suning Sports funding round
$600M
Series A · Jul 2018
Cumulative funding Suning Sports raised
$600M
across 1 funding round
Key investors in Suning Sports
Goldman Sachs
Alibaba Group
YF Capital
CMC Capital Group
CCB International
SenseTime Group
About Suning Sports
Suning Sports is the sports arm of Chinese retail and property conglomerate Suning Holdings Group, headquartered in Nanjing, Jiangsu, and incorporated as Jiangsu Suning Sports Industry Co., a joint venture of Suning Holdings, which owned 90% at the end of 2016, and Suning Appliance Group. It built a business spanning sports media, over-the-top streaming, sports retail and youth training. Its digital platform PP Sports bought Chinese broadcast rights to major football competitions, including the Premier League, La Liga, Serie A, Ligue 1, the Chinese Super League and, from 2018-19, exclusive television and online rights to the Bundesliga for five seasons, along with AFC competitions and WWE, earning revenue from subscriptions and advertising. It opened its first flagship fan store in Nanjing in 2017, planning 152 stores by 2020, and developed grassroots training programmes. Through its Hong Kong subsidiary Suning Sports International, it sits above Great Horizon, the vehicle through which Suning bought a majority stake in Inter Milan in 2016, and the group also owned Chinese Super League club Jiangsu Suning. In July 2018 Suning Sports raised a $600 million Series A led by Goldman Sachs and Alibaba, with Evergrande, Yunfeng Capital, SenseTime, CCB International and others, valuing it at about $2.6 billion. Under financial strain, Suning halted operations at its Chinese football clubs, including champions Jiangsu, in February 2021.
Founded
1990
HQ
Website
Status
Privately held
Customer focus
B2B & B2C
Revenue model
Subscription
Valuation
$2.6B (Jul 2018)
Suning Sports Valuation
Suning Sports is currently valued at $2.6B, based on its Series A in July 2018.
The $600M round was led by Alibaba Group and Goldman Sachs, with participation from Sports Industrial Fund of Zhejiang Province, YF Capital, CCB International, SenseTime Group, ABC International and 3 other investors.
Suning Sports valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2018 | Series A | $2.6B |
Suning Sports Funding History
Suning Sports has raised a total of $600M across 1 funding round.
Suning Sports funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2018 | Series A | Alibaba Group (lead); Goldman Sachs (lead); Sports Industrial Fund of Zhejiang Province; YF Capital; CCB International; SenseTime Group; ABC International; China Evergrande New; China Minsheng Bank; CMC Capital Group | $600M | $2.6B | Suning Sports is a dominant player in Chinese sports media that also operates retail and training divisions. The company is a subsidiary of Suning Holdings, which owns a majority stake in Italian soccer club Inter Milan. In July 2018, Suning Sports completed a Series A funding round raising $600 million, with Goldman Sachs and Alibaba as co-lead investors. Other participating investors included Evergrande, Yunfeng Capital, SenseTime Group, and various government sports-focused funds. The round valued Suning Sports at more than 10 billion Chinese yuan. With the Series A proceeds, Suning Sports planned to further develop its fan-oriented media and OTT services, expand broadcast rights for European soccer—including exclusive Bundesliga rights through its PP Sports subsidiary until 2023—and pursue retail opportunities by opening 152 sports merchandise stores by 2020 following the launch of its Nanjing flagship location. |
Who has invested in Suning Sports?
10 investors have backed Suning Sports across its funding rounds, including Goldman Sachs, Alibaba Group, YF Capital, CMC Capital Group, CCB International and SenseTime Group.
Lead investors include Alibaba Group and Goldman Sachs.
Suning Sports Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Jul 2018 | ||
| 1 | Participant | Jul 2018 | ||
| 1 | Participant | Jul 2018 | ||
| 1 | Participant | Jul 2018 | ||
| 1 | Lead | Jul 2018 | ||
| 1 | Participant | Jul 2018 | ||
| 1 | Lead | Jul 2018 | ||
| 1 | Participant | Jul 2018 | ||
This data is available for Pro users. Sign up to see all 10 Suning Sports investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialSuning Sports Competitors
Suning Sports competitors include listed companies like Liberty Media and Sportradar, and private ones like ONE Championship, Create Music Group, Cosm and Synthesia.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $68M | - | $1.4B | 19.9x | ||
| Private | - | - | $2.2B | - | ||
| Private | $54M | - | $2B | 37.0x | ||
| Private | $100M | - | $4B | 40.0x | ||
| Publicly listed | $4.5B | $1.4B | $23B | 5.8x | ||
| Publicly listed | $1.4B | $595M | $3.6B | 2.0x |
Suning Sports Public Comps
Suning Sports is still privately-owned, but its public comps include China Literature, Imax, COL Global, Xinhua Winshare, Zhejiang Huace Film & TV, Toei Co., Prime Focus, Perfect World Co., Canal+ and China Star Entertainment.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.1B | ($86M) | 1.5x | 1.5x | (19.1x) | 13.0x | |||
| $410M | $130M | 7.3x | 6.3x | 23.0x | 13.1x | |||
| $249M | ($79M) | 9.9x | 7.5x | (31.4x) | (40.7x) | |||
| $1.7B | $250M | 0.7x | 0.7x | 4.9x | 5.9x | |||
| $425M | $64M | 5.9x | 5.8x | 38.7x | 28.1x | |||
| $1.2B | $347M | 2.0x | 1.9x | 6.7x | 9.1x | |||
| $482M | $151M | 6.0x | - | 19.2x | - | |||
| $1B | $171M | 2.5x | 2.2x | 14.4x | 11.0x | |||
This data is available for Pro users. Sign up to see all Suning Sports competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Suning Sports
| When was Suning Sports founded? | Suning Sports was founded in 1990. |
| Where is Suning Sports headquartered? | Suning Sports is headquartered in Nanjing, China. |
| Is Suning Sports publicly listed? | No, Suning Sports is a private, VC-backed company. |
| What is Suning Sports' valuation? | Suning Sports was last valued at $2.6B in its Series A in July 2018. |
| How much funding has Suning Sports raised? | Suning Sports has raised $600M across 1 funding round. |
| What was Suning Sports' last funding round? | Suning Sports' last funding round was a $600M Series A in July 2018, led by Alibaba Group and Goldman Sachs. |
| Who are Suning Sports' investors? | Suning Sports' investors include Sports Industrial Fund of Zhejiang Province, YF Capital, CCB International, SenseTime Group, Goldman Sachs, ABC International, Alibaba Group, China Evergrande New, China Minsheng Bank and CMC Capital Group. |
| Which companies are comparable to Suning Sports? | Companies comparable to Suning Sports include ONE Championship, Create Music Group, Cosm, Synthesia, Liberty Media and Sportradar. |
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