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Business

LeEco feels the heat after burning through cash

HONG KONG Chinese billionaire Jia Yueting, the founder of LeEco, has long modeled himself on the likes of Steve Jobs, Elon Musk and other titans of technology.

Since it started out as a video streaming platform 12 years ago, Jia's company has expanded quickly -- some say too quickly -- into far-ranging sectors, including entertainment content production, smart devices, electric cars, internet finance, cloud computing, virtual reality and real estate. It also has ventured beyond Chinese shores, most notably into the U.S., India and Russia.

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