SINGAPORE — Singaporean startup One Championship, a major martial arts event organizer in Asia, wants to diversify its businesses after the COVID-19 pandemic decimated audience attendance at sporting events.
The company’s core business is holding mixed martial arts events at stadiums, through which it generates revenue from broadcast rights, advertising sponsorship and ticket sales.
Founded in 2011 and backed by Singapore state investor Temasek Holdings and Sequoia Capital, One has built a network spanning over 150 countries, according to the company.
As the pandemic hit sports events around the world last year, the company “definitely saw an impact from COVID,” said CEO Chatri Sityodtong in an online interview with Nikkei Asia. In June 2020, the company announced a staff reduction of 20% while raising $70 million for recovery.
Hence, the company will expand the range of its business…
