LeEco launched in 2004 as an online video platform, similar to YouTube. But the market for online-video services in China is crowded, and the margins are small, so the company has recently taken steps to become a jack-of-all-trades—similar to Alibaba or Xiaomi. In August, CEO Jia Yueting unveiled the company's most ambitious endeavor yet: an Internet-connected smart bike called the "Super Bike." The bike includes both standard smart bike features, like route mapping, a speedometer, and signal lights, but also one-ups other smart bikes with its fingerprint scanner, smart lock, music streaming, and push-to-talk two-way radio—all of which are connected via LeTV's Bike Operating System (Bike OS). The bikes are a key part of LeTV's plans to grow its subsidiary, LeTV Sports, into a brand that streams sports content, develops smart devices, and handles sports event management. LeTV Sports is also working on other sports-related hardware, like wearable trackers and drones. The holding company, meanwhile, continues to expand further, releasing its first-ever smartphone last year.