The heir to China’s greatest family fortune is launching a live streaming site that may soon challenge Twitch.
A Forbes report, via VentureBeat, has revealed Wang Sicong, a Chinese online celebrity and son of Wang Jianlin, China’s richest man, will back Panda TV and will act as CEO.
The business was registered in July this year though no launch date has been announced.
Sicong has had previoius forays into gaming, purchasing professional eSports team Invictus Gaming (then known as Catastrophic Cruel Memory) for $6-million in an effort to boost the sector in China.
Twitch has been attempting to boost its local presence of late, recently investing in Taiwan based Street Fighter star Bruce ‘GamerBee’ Hsiang.
With YouTube Gaming already knocking on Twitch’s door in Western markets, it remains to be seen how much of a fight it will put up in China.