Alibaba takes stake in Chinese video platform

16 February 2019 12:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

BEIJING (AFP) - Alibaba has bought an eight percent stake in Chinese online video sharing and entertainment service Bilibili for an undisclosed 
amount, state news agency Xinhua reported. 


Alibaba's e-commerce arm Taobao will reportedly own 24 million shares in Nasdaq-listed Bilibili, which claims tens of millions of regular users, mainly among young anime, comic and computer game fans in China.

 

Chen Rui, Bilibili’s CEO and chairman, said he hoped the collaboration would help Bilibili to attract yet more users by tapping into Taobao’s huge platform, the Xinhua report said late Thursday.


The two sides had announced a partnership in December which allows Bilibili users to create videos and other content to promote merchandise sold on Taobao.
Bilibili has carved out a following by allowing viewers to add comments on livestreams of anime cosplay performances and video tutorials for popular online games.
Bilibili also offers music and TV serials, putting it in direct competition with Tencent video and Alibaba-owned Youku.


China’s top gaming company Tencent bought a 12.8 percent stake in Bilibili for US$318 million in October. 


It marks a rare case in which a Chinese startup received investment from the two rival tech giants.


Despite its popularity, Bilibili is yet to turn a profit. The company lost 202.7 million yuan (US$ 29.9 million) in the third quarter last year, much higher than the 2.9 million loss recorded in the same period in 2017.

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Army’s LRRP Ambush of LTTE’s Military Intelligence Chief

A news report in the Dailymirror last August stated that the Long Range Recon

“I don’t think Sri Lankans can be realistically ruled by force” -Ahimsa Wickrematunge

Twelve years after the assassination of Lasantha Wickrematunge, the founding

Decisions to be made in Sri Lanka’s hunt for the COVID-19 Vaccine

Around the world, governments are gearing up to roll out nationwide immunizat

“I am the Godfather of Russian tourists” - Udayanga Weeratunga

Former Sri Lankan Ambassador to Russia Udayanga Weeratunga is back in the sce

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 


MIRROR CRICKET