LeEco secures US$600 mn funding, appoints new APAC President

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Chinese Internet and technology conglomerate LeEco on Tuesday announced receiving US$600 million in funding from Chinese institutional investors and that it has appointed Anthony Gao (Gao Jun) as new President for its Asia-Pacific (APAC) region.
Gao currently heads LeEco’s virtual reality (VR) and augmented reality (AR) as well as MFL (Made for LeEco) arms, the company said in a statement.
“True innovative entrepreneurs can see the investment value of LeEco and its enormous growth potential in the future,” said Co-founder and Vice Chairman, LeEco, Hank Liu Hong.
The company said that the first half of the funding will be transferred to LeEco within this November and will support LeEco Global and LeEco’s electric vehicle business. It also said that Gao will be responsible for operational management and meeting various business targets and will report directly to YT Jia, founder and CEO of LeEco Global.
READ MORE: India’s user value will surpass China soon: LeEco executive

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