In the mobile-first world of China, esports continues to grow at an exponential rate, reaching both young and old people from all walks of life.
Tencent, presently already the largest game developer in the world, continues to invest heavily to dominate this market. Recently, the company made a $100 million Series B investment into VSPN (Versus Programming Network)
VSPN, which calls itself a "total solutions provider" for esports, was founded in 2016 in Shanghai. The company was one of the early pioneers of organizing esports tournaments and content creation out of Asia.
Moving forward, the funding round will go towards bolstering VSPN's esports products within its ecosystem in China and across Asia.
VSPN said it will continue to focus on building an esports short-form video ecosystem much like TikTok, improving the quality of esports content creation, and reaching more users via different channels. The company presently hires over 1000 employees across 5 business divisions.
"We are delighted to announce this latest round of funding. Thanks to policies supporting Shanghai as the global center for esports, and with Beijing, Chengdu, and Xi’an expressing confidence in the development of esports, VSPN has grown rapidly in recent years. After this funding round, we look forward to building an esports research institute, an esports culture park, and further expanding globally. VSPN has a long-term vision and is dedicated to the sustainable development of the global esports ecosystem", mentioned Dino Ying, CEO of VSPN.
Tencent is a Chinese internet service portal offering value-added internet, mobile, telecom, and online advertising services.
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