Chairman of the Board of Directors of the Chinese LeEco, billionaire Jia yuetin, announced that the company has run out of money. He said this in a letter that was sent to employees of LeEco, reports Bloomberg.
“We blindly go forward and our need for fast money growth. We exceeded the allowable limits in our global strategy. At the same time, our capital and resources were clearly limited,” — said Latin in the letter.
In this regard, Latin promised to cut his salary to 1 yuan (15 cents).
LeEco — Chinese technological online video company, which is one of the largest in China. It is engaged in the production of television programs, distribution of electricity, provides services to IP-TV, produces electric vehicles, various gadgets and smartphones. Personal fortune Jia Latina Forbes estimates at $ 4.1 billion.
In August it became known that LeEco and the development Fund of the Far East and the Baikal region will promote in China of Russian food, reported “Kommersant”. The new platform, which will ship products that have the names of LeLive.
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