Pictures, just managed to raise 260 million dollars (€229.5 million) into one for your online cinema ticket platform, Taobao Movie. The current valuation of the platform is 2,100 million dollars (1,854 million euros), when until recently it was only 266 million dollars (235 million euros).
Taobao Movie, Alibaba’s online ticketing platform
The Alibaba Group has a 50% stake in Alibaba Pictures. Some of its investors include Ant Financial, Alilaba’s finance subsidiary, and Sina.comalthough there are others. Investors will be left with a 12.4% of the movie booking platform.
The online movie ticket sales business It is not yet very profitable, although in 2015 the number of tickets sold in China online exceeded physical sales for the first time. In fact, the film market in China has grown by 48%. In 2015 the Chinese spent about 44,000 million yuan (5,947 million euros) on movie tickets. Currently, Taobao Movie covers 95% of all box offices in China, since it allows reservations in 5,000 cinemas.
What awaits us after this investment in Taobao Movie
The funds will be used by Taobao Movie to strengthen your position in the ticket sales marketcreate greater value and compete much better in the industry at a time when more and more users prefer to buy movie tickets online from their smartphones.
Despite the opportunities that online movie ticket sales could represent in the coming years, Taobao Movie faces a strong competition and that is why this round of financing will do so well. It will be necessary to see how the sector evolves from now on and how the company knows how to take advantage of the investment received to improve its business.
More about Alibaba Group
founded by, is a private consortium specializing in online e-commerce that has several specific portals for business-to-business sales, retail, online payments, price comparison and cloud storage, among other services.
The Alibaba Group has just been presented in Spain recently, being already known for being the largest marketplace group in the world, such as . For this reason, it has several local partners and continues to look for them in Spain after its presentation in the country.
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