Hupu Sports (Shanghai) Media Ltd, a sports-focused website, has raised RMB618 million ($95 million) in its latest funding round led by China International Capital Corp (CICC), according to a China Money Network report.
The round reportedly brings the company’s valuation over $1 billion, marking the creation of the latest unicorn in China.
Hupu, founded in 2007, operates a website that offers sports-related information, live streaming, e-commerce for sports equipment, communities and event management services.
It boasts over 160 million pageviews per day and reported a total transaction value of RMB2 billion ($300 million) via its e-commerce channel in 2017.
Hupu raised RMB240 million ($37 million) in a Series D round from Quansheng Investment in 2015 and RMB100 million ($16 million) in a Series C financing round led by Greenwoods Asset Management in 2014.
After completing Series C, it joined Greenwoods to form a sports-focused investment firm Arena Capital, whose portfolio includes shared gym operator Supermonkey and boxing event firm Kunlun Fight.