LeEco future looks much safer now after a $2.2B investment

December 22nd, 2017   decode   news

LeEco was having financial troubles recently and the company even withdrew from acquiring Vizio earlier in 2017. Today the company secured an investment worth CNY15,04 billion (more than $2.2 billion) from property developer Sunac China Holdings. The real estate company will acquire stocks in three divisions of the tech company.

Due to rapid pace of growth, LeEco was having troubles securing payments across multiple branches of its conglomerate. Sunac, through its subsidiary Sunac Real Estate, will invest CNY 6.04 billion (over $918 million) in LeEco’s Internet Information and…

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