Alibaba Group Holding Limited said Wednesday it has formed a new division called Alibaba Sports Group that seeks to “transform China’s sports industry” through technology.
The e-commerce giant said it has linked up with Sina Corporation, owner of the Weibo microblogging service, and Yunfeng Capital for the new venture. Alibaba said the new venture will integrate e-commerce, media, marketing, video, home entertainment, cloud computing and other Internet-enabled technologies. The new sports platform will incorporate various aspects of the sports industry such as sports copyrights, sports media, events and ticketing.
Daniel Zhang, Alibaba Group’s chief executive officer, will serve as chairman of Alibaba Sports Group.
“Alibaba Sports Group aims to leverage Alibaba Group’s vast e-commerce ecosystem, Sina’s media resources and Mr. Zhang Dazhong’s deep experience with China’s new media and sports sectors to create an Internet-based, consumer-centric sports platform that targets to create value for sports industry participants and enhance consumers and sports fans engagement with sports teams and brands,” the company said.