Meanwhile, video streaming was taking off in China, attracting major players like Baidu, which launched iQiyi in 2010 and later integrated it with another service, PPS, which it acquired for $370 million in 2013. Suning quickly responded, investing $250 million in PPTV, a competitor to PPS, jumping into the market even before Alibaba did. In 2015, inspired by Alibaba’s launch of its financial arm, the Ant Group, Suning introduced a financial division, Suning Finance, and in 2017 it established a digital bank. About the same time, the company also entered the sports industry, investing in Jiangsu Football Club and acquiring a majority share in Inter Milan Football Club. In 2019, copying Alibaba’s introduction of an omnichannel retail approach, Suning bought Wanda Department Stores and took a stake in Carrefour China, with the aim of becoming an omnichannel retailer too. In sum, Suning set out to aggressively diversify its business model while integrating its retail operations with businesses in various complementary sectors, extending its market reach, increasing its data-gathering capabilities, and enhancing customer engagement.