Alibaba takes stake in Chinese video platform Bilibili

FILE PHOTO: The logo of Alibaba Group is seen at the company's headquarters in Hangzhou, Zhejiang province, China, July 20, 2018. REUTERS/Aly Song/File Photo

BEIJING: Alibaba has bought an 8% stake in Chinese online video sharing and entertainment service Bilibili for an undisclosed amount, state news agency Xinhua reported. 

Alibaba’s e-commerce arm Taobao will reportedly own 24 million shares in Nasdaq-listed Bilibili, which claims tens of millions of regular users, mainly among young anime, comic and computer game fans in China.