Alibaba kicks live plans into gear with Damai buy
The world's largest retailer, whose revenues dwarf Walmart, Amazon and eBay combined, has kickstarted its bid for ticketing domination by buying market leader Damai.cn
News By | 21 March 2017
Chinese ecommerce giant Alibaba appears to be setting into motion its long-awaited expansion into live entertainment, today announcing the acquisition of China’s leading music, sports and theatrical ticket agency, Damai.cn.
On its page on Chinese social network Weibo, Alibaba says the buy-out, for an undisclosed sum, “continues an earnest three-year romance” with Damai.cn, in which it has had a minority interest since 2014.
Alibaba – whose Alibaba Pictures business last May announced a strategic partnership with Damai.cn, launching…
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