A big funder behind secretive car startup Faraday Future is in talks to buy Yahoo's old land

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Jia Yueting, co-founder and head of Le Holdings Co Ltd, also known as LeEco and formerly as LeTV, poses for a photo in front of a logo of his company after a Reuters interview at LeEco headquarters in Beijing, China, picture taken April 22, 2016. REUTERS/Jason Lee

Thomson Reuters

Jia Yueting, co-founder and head of Le Holdings Co Ltd, poses for a photo in front of a logo of his company in Beijing

LeEco, the company partnered with the startup electric-car maker Faraday Future, is apparently in talks to scoop up a giant piece real estate from Yahoo, the Silicon Valley Business Journal reported.

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The land is about three miles from LeEco's newly-opened US headquarters in San Jose. The lot is approved for up to 3 million square feet of research and development space

According to the Business Journal, Yahoo intended to use the lot as a second campus. The beleaguered internet giant originally bought the property for $106 million in 2006.

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The deal, if it goes through, suggests that LeEco is serious about it's expansion in the US. The company, formerly known LeTV, has already established itself as a massive media conglomerate in Beijing. The move to the US follows a number of Chinese tech giants who have taken up residence in Silicon Valley - ostensibly to tap the region's wealth of tech talent.

NextEV, another Chinese electric-car startup, has an office just steps away from LeEco.

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