Le.com
| Company type | Public company (formerly listed) |
|---|---|
| Industry | Technology, Entertainment, Internet |
| Founded | 2004 |
| Founder | Jia Yueting |
| Headquarters | Chaoyang, Beijing , China |
Area served | China, United States (partnerships) |
Key people | Jia Yueting (founder, former chairman and CEO) |
| Products | Online video streaming, Smart TVs, Cloud services (LeCloud) |
Le.com (), officially registered as Leshi Internet Information and Technology Corp., Beijing, is a prominent Chinese technology enterprise and ranks among the largest online video platforms in China, with its headquarters located in Chaoyang, Beijing.
Previously known in English as LeTV, Leshi Internet continues to operate under the Leshi Video name () for its Chinese audience.
History
Established by Jia Yueting in 2004, Letv.com evolved into a nationally recognized high-tech company and was listed on the Shenzhen Stock Exchange on 12 August 2010. By 2015, Le.com reported a market valuation reaching $12 billion.
On 5 December 2015, Le.com revealed intentions to acquire Le Vision Pictures from LeEco, which was predominantly controlled by founder Jia Yueting, subject to shareholder consent. As of November 2016, this acquisition had not been finalized.
Towards the end of 2015, Jia Yueting along with his sister Jia Yuefang pledged more than 80% of their combined 42.2% ownership in Le.com. The company had secured loans from the Jia family, raising concerns regarding its financial health due to substantial leverage. Throughout 2016, Le.com and its former subsidiary LeSports underwent recapitalizations facilitated by private equity investors, which reduced Le.com's ownership in LeSports to 10.34%.
On 13 January 2017, Sunac China purchased an 8.61% share in Le.com from Jia Yueting for roughly , becoming the second-largest shareholder after Jia himself. Sunac also acquired stakes in Le Vision Pictures and Leshi Zhixin, leading to shifts in ownership: Le.com remained the principal shareholder of Leshi Zhixin with a 40.31% stake, followed by Tianjin Jiarui (acting on behalf of Sunac) holding 33.5%, and LeEco owning 18.38%. In September 2018, Tianjin Jiarui further expanded its holdings in affiliated companies through auctions managed by LeEco's liquidator.
In February 2017, Le.com executed a capital injection agreement with supplier Truly International Holdings, which invested for a 2.34% equity share in Leshi Zhixin. Subsequently, Truly initiated legal action against Leshi Zhixin citing alleged violations of the investment contract.
Jia Yueting stepped down from his roles as chairman and CEO in July 2017.
By mid-2018, Leshi was at risk of suspension from trading on the Shenzhen Stock Exchange due to negative net asset values. In April 2019, arbitration mandated the company to repay two investment managers a total of .
Le.com was formally removed from the stock exchange on 14 May 2020.
On 28 January 2021, the former CEO declared plans to return to China.
Video streaming service
Le.com's video streaming platform hosts an extensive library featuring over 100,000 television drama episodes alongside approximately 5,000 films. The service reports about 250 million daily pageviews, attracts around 350 million users monthly, and engages roughly 100 million daily mobile viewers plus 10 million daily viewers on large-screen televisions.
Among its popular content is the Go Princess Go series. While primarily centered on TV shows and movies, Le.com also operates LIVE and LeVidi platforms that offer live streaming and short-form videos sourced from YouTube and other content providers.
In the United States market, Le.com collaborates with content partners including Machinima Inc., Tastemade, Seeso, and Indieflix. Its offerings—Le, LeVidi, and LIVE—are collectively branded as EcoPass.
Flat-screen Television
Le.com produces flat-panel smart televisions through its partly owned affiliate Leshi Zhixin (乐视致新). Additionally, Leshi Zhixin possesses a 20.09% equity interest in TCL Multimedia, which is a subsidiary controlled by TCL Corporation holding a 52.1% majority stake.
LeCloud
LeCloud, previously known as Letv Cloud, was a forerunner in launching the Video-as-a-Service (VaaS) concept in 2014. It utilizes cloud computing, big data analytics, and video technology to deliver comprehensive content aggregation across the Internet, along with distribution and value-added services.
In May 2015, LeCloud formed a strategic alliance with Microsoft to ensure its solutions were compatible with Microsoft Azure, thereby strengthening its cloud infrastructure for video service delivery.
See also
External links
- Articles with short description
- Chinese entertainment websites
- Companies listed on the Shenzhen Stock Exchange
- Companies in the CSI 100 Index
- Entertainment companies of China
- Video on demand services
- Companies based in Beijing
- Civilian-run enterprises of China
- Chinese brands
- Internet properties established in 2004
- 2004 establishments in China
- Chinese companies established in 2004