Alibaba invests $150 Million on IeSF
Chinese business magnate Alibaba further expands their Esports venture by partnering with the International Esports Federation, an investment that amounted to hundreds of millions of US dollars.
Alibaba, the China-based e-commerce business owned by magnate and philanthropist Jack Ma, has just announced that Alisports, Alibaba’s Sporting and now competitive gaming arm, has partnered with the International Esports Federation for an “exclusive strategic partnership” aimed at global esports.
Alisport’s investment, which totaled to CNY 1 Billion or USD 149 Million is aimed towards both professional and amateur esports events, with the centerpiece being the World Esports Games which is hosted by Alisports themselves, and will be endorsed by the IeSF as part of the deal.The WESG was featured to have a total prize pool of USD 5.5 Million and aims to attract players from all around the world.
In addition to this investment, Alisports also aims to further promote Electronic Sports in China by building Esports stadiums and promoting Esports as a way of life.
Image source: IeSF