Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Alibaba Buys Out Online Ticketing Platform Damai

The move marks a further push into entertainment by the firm as it expands beyond its core online retail business.
Alibaba Group | Source: Shutterstock
By
  • Reuters

SHANGHAI, China — China's Alibaba Group Holding Ltd has fully acquired online ticketing platform Damai.cn, the e-commerce giant said on Tuesday, marking a further push into entertainment by the firm as it expands beyond its core online retail business.

"Ali announces its acquisition of Damai, part of our big entertainment strategy," the firm said on its Sina Weibo platform. Alibaba first invested in Damai in 2014. "This continues an earnest three-year romance."

In a separate post Damai said it was happy to join the "Alibaba family". It also reposted a statement from a senior Alibaba executive saying this meant Alibaba now owned 100 percent of the firm.

Alibaba said in a statement to Reuters that the full acquisition of Damai "fits nicely into our 'health and happiness' strategy and forms a strategic part of the value chain in our media and entertainment business."

ADVERTISEMENT

"Damai.cn will be a powerful platform to distribute our media content as well as expand our user reach and engagement," Alibaba said, adding there would be synergies with its own entertainment units Alibaba Music, Alibaba Pictures and Youku.

By Adam Jourdan; editor: Stephen Coates.

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

Op-Ed | How Long Can Adidas Surf the ‘Terrace’ Trend?

As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.


How Rent the Runway Came Back From the Brink

The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Awards - Deadline 30 April 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Awards - Deadline 30 April 2024