⬆️ ⬇️

Alibaba Group intends to buy "Chinese YouTube" for $ 3.6 billion

Chinese holding Alibaba Group intends to purchase one of the largest Chinese video services Youku Tudou for $ 3.6 billion. With such a proposal, the holding appealed to the leadership of the “Chinese YouTube”. Youku Tudou did not reject the advantageous offer.



Alibaba plans to buy back all Youku shares for $ 26.60 apiece. This is 30% more than at the close of trading on Thursday, October 15. At the end of 2014, the holding already acquired an 18.3% stake in video service. If the deal is closed, Youku will be valued at $ 4.2 billion, experts at Quartz say.



The founder and leader of Youku, Viktor Koo (Viktor Koo) supported the proposal. He believes that the deal will positively affect Youku. Now it will be considered by the board of directors of video hosting, reports Reuters.

')

According to the video service itself, its monthly audience is 580 million unique users. Alibaba intends to interest this audience with its own projects for the development of digital entertainment content and especially video content. Alibaba produces its own films on Alibaba Pictures' own film company.



In the second quarter of 2015, Youku's net loss amounted to $ 55 million, as the company spends hundreds of millions of dollars to purchase licenses for famous films and shows to catch up with other video hosting sites - LeTV and the Baidu- owned iQiyi service.



Youku was launched in 2006. Currently, it is the only major video service in China that does not fully belong to any of the corporations.



Megamind wrote that in early September, the Alibaba Group launched a beta version of its own streaming video service Tmall Box Office. The company wants to repeat the success of American services in China - Netflix and HBO . Content will be purchased in China and other countries and produced in the company itself. A monthly subscription will cost users about $ 6.

Source: https://habr.com/ru/post/295444/



All Articles