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LeEco Gets A $600M Lifeline

Following reports of a a severe cash crunch, Chinese tech and entertainment conglomerate LeEco has come up with $600 million in fresh financing from Asian businesses and personal friends of CEO Jia Yueting to keep the company running while it awaits a payday from content subscribers.

“Just weeks after warning of a cash crunch, Chinese technology and entertainment conglomerate LeEco has raised $600 million in fresh funds. The financing boost comes at a crucial juncture for the company.”

Read More at Hollywood Reporter