updated - September 18, 2021 Saturday EDT
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."
TOP 10 FRANCHISES OF 2021