Cash-strapped LeEco raises $2.18 billion from China's Sunac
Technology startup LeEco has raised $2.18 billion in funding from Chinese property developer Sunac a few months after admitting it was facing a cash crunch. Sunac will acquire stakes in LeEco's movie and online video divisions. LeEco's Chairman Jia Yueting slashed his income to 15 cents (around ₹10) in November after admitting the company over-stretched as it "blindly sped ahead."