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

Suning Sports Overview

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

ChinaNanjing

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

Suning Sports valuation by funding round
DateStageValuation
Jul 2018Series A$2.6B

Suning Sports Funding History

Suning Sports has raised a total of $600M across 1 funding round.

Suning Sports funding rounds

Suning Sports funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2018Series AAlibaba 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$2.6BSuning 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

Investors in Suning Sports by funding rounds participated
InvestorHQRoundsRoleFirst check
Sports Industrial Fund of Zhejiang ProvinceChinaChina1ParticipantJul 2018
YF CapitalChinaShanghai1ParticipantJul 2018
CCB InternationalHong KongHong Kong1ParticipantJul 2018
SenseTime GroupChinaShanghai1ParticipantJul 2018
Goldman SachsUnited StatesNew York City, NY1LeadJul 2018
ABC InternationalHong KongHong Kong1ParticipantJul 2018
Alibaba GroupChinaHangzhou1LeadJul 2018
China Evergrande NewChinaGuangzhou1ParticipantJul 2018

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Suning 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.

Public and private companies comparable to Suning Sports
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ONE ChampionshipSingaporeSingaporePrivate$68M-$1.4B19.9x
Create Music GroupUnited StatesLos Angeles, CAPrivate--$2.2B-
CosmUnited StatesLos Angeles, CAPrivate$54M-$2B37.0x
SynthesiaUnited KingdomLondonPrivate$100M-$4B40.0x
Liberty MediaUnited StatesUnited StatesPublicly listed$4.5B$1.4B$23B5.8x
SportradarSwitzerlandSwitzerlandPublicly listed$1.4B$595M$3.6B2.0x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
China Literature$1.1B($86M)1.5x1.5x(19.1x)13.0x
Imax$410M$130M7.3x6.3x23.0x13.1x
COL Global$249M($79M)9.9x7.5x(31.4x)(40.7x)
Xinhua Winshare$1.7B$250M0.7x0.7x4.9x5.9x
Zhejiang Huace Film & TV$425M$64M5.9x5.8x38.7x28.1x
Toei Co.$1.2B$347M2.0x1.9x6.7x9.1x
Prime Focus$482M$151M6.0x-19.2x-
Perfect World Co.$1B$171M2.5x2.2x14.4x11.0x

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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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