Alibaba’s Ticketing Business Valued at $2.1 Billion

Alibaba Pictures Group, the film making arm of Chinese e-commerce giant Alibaba has raised $260 million (RMB1.7 billion) for Taobao Movies, which offers ticketing and seat selection services.

The series A financing for Taobao Movie is led by CDH Investments, Ant Financial Services Group and Sina.com. Other investors include Hehe Pictures, Bona Film, Huace Media, Nanpai Entertainment and Union Pictures.

APG says that the fund-raising means that the unit now has a valuation of $2.1 billion (RMB13.7 billion.)

Taobao Movie, which was acquired from parent Alibaba at the end of 2015, connects to more than 5,000 theaters in China, covering 95% of the country’s total theater box office. APG sees it as an integral part of its online promotion and distribution business, as well as a platform that connects consumers with film entertainment.

“The completion of this Series A Financing demonstrates that the business strategy, market prospects and operational capability of Taobao Movie has been well recognized by the industry. With the support of more abundant resources and capital, we will continue to create greater value for our partners, investors and the market,” said Zhang Qiang, CEO of APG.

While Alibaba shares are traded in New York, APG has its own share quotes and is listed on both the Hong Kong and Singapore stock exchanges.

More Biz

  • Jay-Z Slams Philadelphia Mayor for Made

    Jay-Z Slams Philadelphia Mayor for Made in America Festival Move

    Alibaba Pictures Group, the film making arm of Chinese e-commerce giant Alibaba has raised $260 million (RMB1.7 billion) for Taobao Movies, which offers ticketing and seat selection services. The series A financing for Taobao Movie is led by CDH Investments, Ant Financial Services Group and Sina.com. Other investors include Hehe Pictures, Bona Film, Huace Media, Nanpai Entertainment and […]

  • Ryan Chisholm Clio Massey Work of

    David Massey Announces Leadership, Artists for Work of Art Publishing-Management Venture (EXCLUSIVE)

    Alibaba Pictures Group, the film making arm of Chinese e-commerce giant Alibaba has raised $260 million (RMB1.7 billion) for Taobao Movies, which offers ticketing and seat selection services. The series A financing for Taobao Movie is led by CDH Investments, Ant Financial Services Group and Sina.com. Other investors include Hehe Pictures, Bona Film, Huace Media, Nanpai Entertainment and […]

  • Steph Curry Uncovered

    Steph Curry Says He Would 'Jump' at the Chance to Act

    Alibaba Pictures Group, the film making arm of Chinese e-commerce giant Alibaba has raised $260 million (RMB1.7 billion) for Taobao Movies, which offers ticketing and seat selection services. The series A financing for Taobao Movie is led by CDH Investments, Ant Financial Services Group and Sina.com. Other investors include Hehe Pictures, Bona Film, Huace Media, Nanpai Entertainment and […]

  • Unanimous Media Jeron Smith

    Listen: Stephen Curry's Right-Hand Man in Hollywood Talks Their Content Strategy

    Alibaba Pictures Group, the film making arm of Chinese e-commerce giant Alibaba has raised $260 million (RMB1.7 billion) for Taobao Movies, which offers ticketing and seat selection services. The series A financing for Taobao Movie is led by CDH Investments, Ant Financial Services Group and Sina.com. Other investors include Hehe Pictures, Bona Film, Huace Media, Nanpai Entertainment and […]

  • PBS 2015 Winter TCA

    Harvey Weinstein Seeks Dismissal of Ashley Judd Blacklist Suit

    Alibaba Pictures Group, the film making arm of Chinese e-commerce giant Alibaba has raised $260 million (RMB1.7 billion) for Taobao Movies, which offers ticketing and seat selection services. The series A financing for Taobao Movie is led by CDH Investments, Ant Financial Services Group and Sina.com. Other investors include Hehe Pictures, Bona Film, Huace Media, Nanpai Entertainment and […]

  • Red Bull Music Festival

    Red Bull Music Festival Berlin Announces 2018 Lineup

    Alibaba Pictures Group, the film making arm of Chinese e-commerce giant Alibaba has raised $260 million (RMB1.7 billion) for Taobao Movies, which offers ticketing and seat selection services. The series A financing for Taobao Movie is led by CDH Investments, Ant Financial Services Group and Sina.com. Other investors include Hehe Pictures, Bona Film, Huace Media, Nanpai Entertainment and […]

  • Will Smith arrives at the U.S.

    Will Smith, Japanese Soccer Star Keisuke Honda Launch Dreamers Fund

    Alibaba Pictures Group, the film making arm of Chinese e-commerce giant Alibaba has raised $260 million (RMB1.7 billion) for Taobao Movies, which offers ticketing and seat selection services. The series A financing for Taobao Movie is led by CDH Investments, Ant Financial Services Group and Sina.com. Other investors include Hehe Pictures, Bona Film, Huace Media, Nanpai Entertainment and […]

More From Our Brands

Access exclusive content