LeEco’s Move Into America
- Product Type: Streaming Company
It is hard to measure exactly how many failed tech products this caused, so we wanted to just go over the story. LeEco is known as the Chinese version of Netflix, and they have been pretty huge there. A few years ago, they wanted to make it big in the U.S. but the gamble did not pay off. Initially, they attempted to buy the Vizio corporation and the aforementioned Faraday Future. The acquisition of Vizio did not work out, and a few lawsuits came out of the attempt. They did acquire Faraday Future, but we all know how that worked out. The founder, Jia Yueting, actually used the company to avoid billions of dollars of Chinese debt. Thus, the move into America did not work out and numerous tech failures took place.