×

Alibaba Buys 8% Stake in Chinese Video Platform Bilibili

Alibaba has purchased an 8% stake in the Chinese online video platform Bilibili, the official Xinhua news agency reported.

Bilibili is one of China’s top video streaming and entertainment platforms, with about 92 million monthly active users and 450 million page-views per day. Founded in 2009, it was listed on the NASDAQ last March. Alibaba’s Taobao e-commerce retail platform now owns 24 million shares.

“I believe our cooperation can further unleash Bilibili’s commercial potential. I hope our collaboration will bring the creativity of the young Chinese to the world,” said Jiang Fan, vice president of Alibaba Group and president of Taobao, according to Xinhua’s report Thursday. It also cited Bilibili CEO Chen Rui as saying that the enormous Taobao platform would help more people discover Bilibili content.

Alibaba’s investment comes on the heels of a deal struck with the platform in December to find new, interactive ways of connecting users to content creators and merchandise. Bilibili is particularly popular with post-’90s Generation Z users — a key demographic for content-driven e-commerce.

Alibaba rival Tencent is the second-largest shareholder of Bilibili, making the video platform one of China’s rare companies to have both tech giants as investors. In October, Tencent and Bilibili announced a partnership to mutually create and host more content in the anime, comics and games space.

More Digital

  • Illustration of the video streaming company

    Netflix Insists It Won't Move Into Selling Advertising

    Netflix wants you to know: It doesn’t have any plans now or in the future to start running commercials on its streaming service. Company execs have have regularly explained that being ad-free is a core part of Netflix’s attractiveness to consumers, and the strategy has been a standard part of its “Long-Term View” mission statement [...]

  • MODEL RELEASED Hand holding iPhone with

    Netflix to Launch Lower-Priced Mobile-Only Plan in India

    Following several months of testing, Netflix is getting ready to officially launch a mobile-only plan in India. Priced significantly below its regular subscription plans, the new plan is meant to help the company better compete with local players like Hotstar. Netflix announced the step in its Q2 2019 earnings letter to investors Wednesday, writing: “We [...]

  • Always Be My Maybe

    'The Perfect Date,' 'Always Be My Maybe' Draw Big Crowds on Netflix

    Rom-coms are working for Netflix: “The Perfect Date,” a romantic comedy starring Noah Centineo from the company’s hit movie “To All The Boys I’ve Loved Before,” has been viewed by 48 million subscriber households in its first four weeks on the service, Netflix revealed Wednesday. And “Always Be My Maybe,” starring Ali Wong and Randall [...]

  • Nintendo Switch

    Nintendo Releases Updated Switch With Better Battery

    Nintendo just refreshed its wildly successful Switch game console, but the company isn’t giving existing Switch owners many reasons to upgrade: The renewed game console comes with a better battery that guarantees up to 9 hours of game play, while otherwise sticking with the same design and features of the original Switch. The new model [...]

  • Ryan Chanantry - Topic SVOD

    First Look Media's Topic Plans to Launch Subscription VOD Service (EXCLUSIVE)

    Can Topic execute a solid pivot into premium video? The digital storytelling outlet of Pierre Omidyar’s First Look Media thinks it can put together a niche Netflix-style subscription-video service curated to appeal to young “culture cravers.” Topic plans to launch the subscription VOD service in the fourth quarter of 2019, stocked with hundreds of hours [...]

  • Dan Ahdoot

    This New Podcast Lets You Take a Peek Into Celebrities' Fridges (EXCLUSIVE)

    Comedian Dan Ahdoot wants to show you a side of celebrities you haven’t seen before — which is why he is having them open up their fridges. Anyone appearing on Ahdoot’s new podcast “Green Eggs & Dan,” which was launched by the podcast network Podglomerate Wednesday, has to bring along a photo of the inside [...]

More From Our Brands

Access exclusive content