LeEco 'to snap up prime real estate from Yahoo'
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E-mail China Daily, May 3, 2016
Apart from LeEco, internet giants such as Google Inc and Apple Inc are said to be among the bidders.
LeEco declined to comment on this matter. Actually, the company stepped up its expansion in North America in recent years.
On April 28, LeEco announced it would establish its new 7,400-sq-m North American headquarters in San Jose, a facility that can accommodate as many as 800 employees. The headquarters is only 4.8 km from the site purchased from Yahoo.
It will also be the future home of LeEco's self-driving research center the LeFuture AI Institute, through partnering with Faraday Future, an electric-car company based in California.
Moreover, top talent engaged in research and development, products sales and management from Apple, Google and Samsung Electronics Co Ltd have also been attracted into LeEco's US office.
Pang Yiming, a senior analyst at Beijing-based Internet consultancy Analysys International, said: "Buying a massive piece of land in Silicon Valley, where many internet tech giants gather and is known for its unique talent, shows LeEco's dedication to keep step with world-class level."
LeEco could learn the most advanced technology and even attract top-level talent through establishing its headquarters in Silicon Valley, and to help expand in the North American market with its ecosystem of technology and content offerings, Pang added.
Industry sources said selling the property could meet some of Yahoo's cash demands and reduce its operating cost, which also reflects the decline of the traditional internet conglomerate and the rise of some new internet forces.
Ma Si contributed to this story.
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