FRANCHISE HERALD
Sunday May 20, 2018

updated - May 20, 2018 Sunday EDT

Why Did Alibaba Acquire Online Ticketing Platform Damai?

Mar 21, 2017 11:24 AM EDT
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Online Ticketing Platform Damai
Damai tickets
Damai tickets

China's Alibaba Group Holding (BABA, -1.25%) 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."

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