Tag Archives: ‘Over-Extended’

LeEco CEO Admits to Cash Crunch, Says Company ‘Over-Extended’

  The CEO of Chinese internet firm LeEco has told employees the company grew too quickly and is short of cash, according to a letter seen by Bloomberg News, weeks after it announced its US expansion. Billionaire Jia Yueting said his 12-year-old video-streaming company, which recently bulldozed into sectors as wide-ranging as self-driving cars, sports, smart phones, film making, and ... Read More »