SHANGHAI China’s Alibaba Group Holding Ltd (BABA.N) has fully acquired online ticketing platform Damai.cn, the e-commerce giant said on Tuesday, marking a further push into entertainment by the firm.
“Ali announces its acquisition of Damai, part of our big entertainment strategy,” the firm said on its Sina Weibo platform. “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 did not immediately respond to requests for comment.
(Reporting by Adam Jourdan; Editing by Stephen Coates)