![]() The step follows an agreement announced by the two sides in December, in which Alibaba and Bilibili would collaborate in “content-driven e-commerce and commercialization of Bilibili’s intellectual property assets.”Īn industry analyst told Caixin that the video site can encourage its users to consume more products, a commercial opportunity for which “Alibaba is naturally the biggest channel.”īilibili Chairman and CEO Chen Rui said in December that the company looks forward “to working with Taobao to fulfill the tremendous entertainment and consumption needs of the young generations in China.”įounded in 2009, Bilibili is a leading entertainment video site that focuses on anime, comics and games. The other details of the transactions have not been disclosed. Both of the transactions were closed by Feb. has bought a 7.8% stake in Tencent-backed video and animation site Bilibili Inc., with the goal of using the platform to encourage people to buy things from its e-commerce platforms.Īlibaba announced on Thursday that its Taobao e-commerce unit had acquired 24 million shares of the Shanghai-based streaming site.Ĭaixin learned Alibaba last year bought shares from some long-term Bilibili shareholders and then boosted its stake this month with shares purchased on the secondary market. ![]()
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