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2 April, 2016 00:00 00 AM
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Alibaba makes play for growing e-sports sector

AFP

AFP, SINGAPORE: Chinese e-commerce giant Alibaba will kick off a global e-sports tournament this month, with big prize money up for grabs, as the Internet powerhouse makes a play for the fast-growing industry. Alibaba signed an agreement this week with Singapore-based social networking firm YuuZoo to run the firm's e-sports events in China, including the AliSports World Electronic Sport Games (WESG) kicking off at the end of April and which will offer a total of $5.5 million in prize money. Formed in September, AliSports is spearheading Alibaba's bid to boost its share of China's lucrative sports industry, which is forecast to grow to $814 billion by 2025. "Sports is a multi-billion dollar business in China, with massive growth potential. That is why Alibaba is investing heavily in this vertical," AliSports chief executive Zhang Dazhong said, according to a statement on the YuuZoo website. Marking its entry into the e-sports arena, AliSports will spend $15.4 million alone.

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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