Sports social market business venture

In March 2015, Yungao Golf, a mobile social service platform developed by Shenzhen Golf Golf Co., Ltd., secured RMB 50 million in Series A funding led by Guangfa Xinde Investment Management. This marked a milestone as it became the first Internet company in the golf industry to receive such financing. The move signaled growing interest from investors in the sports social market. This wasn't the first time that the capital market showed interest in sports social platforms. Earlier in the year, a domestic software company that pioneered the sports social space raised $10 million in funding from SIG. Meanwhile, a sports smart wearable app also closed a $30 million Series B round, highlighting the rising momentum in this sector. The trend of sports socialization has gained significant traction. From health and fitness to online education, the traditional internet landscape was buzzing in 2014, and the sports segment was no exception. Tech giants like Samsung and Apple began to enter the sports and wellness industry, while Nike expressed optimism about the future of mobile-based sports and health solutions. Venture capital investment in sports-related ventures surged during late 2014 to early 2015, with over ten times more funding than previous periods. It is estimated that there are over 100 golf-themed apps in China alone, showing the competitive nature of this emerging market. Recently, the first women's marathon in China kicked off in Shenzhen, where many participants celebrated their holidays by running. Since 2014, the popularity of running has sparked a new form of social interaction. Thanks to social software, even simple activities like running have become fashionable. Sports social platforms play a key role in transforming these activities into cultural trends. A 2014 sports white paper from a Chinese sports social app highlighted three key trends: smartphones have become essential running gear, runners in cities show strong personality and a desire to share, and nearly 58% of users are interested in various sports. These insights reflect how deeply integrated sports and social media have become. Sports socialization has helped shift participation from casual users to high-end audiences. For sports like golf, which were once exclusive to the elite, social platforms are now making them more accessible to the general public. The sports market is seen as the next big opportunity. In 2013, the domestic sports industry was valued at around $52.6 billion, or 0.56% of GDP, compared to the U.S. market, which reached $463.9 billion or 2.8% of GDP. This shows vast potential for growth in China. However, the sports market is unique, covering areas like sportswear retail, fitness services, event tickets, and smart wear. Traditional business models like C2C or B2C often fall short in meeting the needs of this diverse sector. As a result, many companies are focusing on building user communities through social platforms. Industry analysts suggest that sports socialization is not just about connecting strangers; it requires professional engagement after initial user acquisition. It’s about creating a community where users can connect, share experiences, and access valuable content—making it more than just a social network. For instance, some platforms invite athletes, coaches, and fitness experts to build a professional sports community. Their involvement helps attract regular users and foster deeper social interactions. Yungao founder Yun Gao believes that traditional social networking models aren’t effective for sports. Instead, an O2O (online-to-offline) approach is needed. Yungao has partnered with over 600 golf courses across China, offering online bookings that cater to travelers and vacationers. Despite its success, Yungao hasn’t yet turned a profit. The company mainly earns through fixed commissions from golf courses, while investing in user subsidies like low-cost golf experiences and promotional packages. The target audience is currently the post-70s and 60s generations, but the goal is to attract younger demographics like the 80s and 90s to grow the sport’s appeal. In Shenzhen’s Xili driving range, 80% of afternoon users are Yungao members, and 15% purchase golf accessories. With 200,000 registered golfers, Yungao is building a solid community base. Recently, the platform added features like coaching, online shopping, and community functions, aiming to expand its O2O model in the golf industry.

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