The sports community platform Hupu recently received financial support of RMB 1.26 billion (around $182 million) from Bytedance in pre-IPO funding. Before the investment, Bytedance’s short video arm Watermelon was the default platform when users were redirected, and they have long been official partners. The cooperation will enhance Bytedance’s content pool especially in the sports field, and its powerful marketing and e-commerce background can strongly support Hupu’s relevant business.
