Alibaba completed the acquisition of an 8% stake in Bilibili.

Alibaba completed the acquisition of an 8% stake in Bilibili, an online entertainment platform for young generations in China. Financial terms were not disclosed. “This business collaboration with Taobao is a remarkable testament to Bilibili’s commercial potential and closely aligns us with China’s leading and most successful e-commerce platform. We can now leverage Taobao’s gigantic platform and seasoned e-commerce operating capabilities to further help our content creators realize and improve their commercial values, thereby building a more-virtuous content community and commercialization-focused ecosystem,” Rui Chen, Bilibili Chairman of the Board and Chief Executive Officer.