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LeEco Appoints New APAC President and Secures US$600 Million new Funding

BANGALORE, November 15, 2016 /PRNewswire/ —

Leading global Internet and technology conglomerate LeEco has swiftly implemented its upgraded strategy by appointing a new top executive for Asia-Pacific region while receiving major financial support from investors.

     (Photo: http://photos.prnewswire.com/prnh/20161115/439456)

Mr. Anthony Gao (Gao Jun) will assume the position of President of LeEco APAC, concurrently the Chief Executive Officer of LeEco, Hong Kong. Responsible for operational management and meeting various business targets, Gao will report directly to Mr. YT Jia, Founder and CEO of LeEco Global.

Mr. Gao has extensive experience in the technology industry. Before joining LeEco, Gao spent 17 years in Huawei in various senior executive positions including CEO of Huawei Device in China, President of Global Sales and Technical Service Department, and President of Global Strategy and Marketing Department.

Gao currently heads LeEco’s VR and AR company as well as MFL (Made for LeEco), LeEco’s initiative for open smart hardware ecosystem. His leadership in these businesses will remain.

On the financing front, LeEco has secured a US$600 million of funding from major Chinese institutional investors today. 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.

LeEco is undergoing a series of strategic and organizational upgrades as it enters the second phase of its strategy, where the focus shifted from aggressive expansion to positive and sustainable growth and acquisition of high value user.

“Although there are doubts surrounding LeEco, true innovative entrepreneurs can see the investment value of LeEco and its enormous growth potential in the future,” said Hank Liu Hong, Co-Founder and Vice Chairman of LeEco.

About LeEco:

LeEco, formerly known as Letv, is a global pioneering Internet and technology company with multiple internet-based ecosystems across content, devices, applications and platforms. Founded in November 2004 by YT Jia and Hank Liu Hong, LeEco employs more than 15,000 people across the world and is the world’s first video company to go public with a market capitalization of more than $11 billion USD. Headquartered in Beijing, China and Silicon Valley, U.S., it has regional offices in Hong Kong, India and Russia.

With ‘Breakthrough Technology, Comprehensive Ecosystem and Disruptive Pricing’ as the guiding principle, LeEco is engaged in a myriad of businesses, spanning from Internet-based ecotvs and ecophones, video production and distribution, smart devices/accessories and applications, to e-commerce and connected super-electric cars. The company also features one of the world’s largest content libraries, comprising of movies, TV dramas, entertainment shows, sports and music, which can be conveniently viewed on LeEco products, including the ecophones, ecotvs, and in the near future, connected electric vehicles. Breaking the boundaries of industries, LeEco provides personalized products and services for an enhanced user experience at disruptive prices.

Media Contact:
Mridula Benjamin
Senior Executive – PR & Marcom, LeEco
mridulabenjamin@le.com
+91-9886277984

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