Alibaba is betting on competitive video gaming’s “bright future,” and they’re willing to lose money until esports makes it mainstream. The company’s “esports arm,” Alisports, held the World Electronic Sports Games recently, and lost 70% of what they invested in the event—but they’re not sweating it. Alibaba’s CEO explained they “estimate that [they] will be losing money for the next five years,” but that their early investment will pay off because in China alone there are “1.8 million esport fanatics and 65% of those are between 18 and 25.” (Gadgets Now)
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