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.”
