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Alibaba buys online ticketing platform Damai

LiveMint logoLiveMint 21-03-2017 Reuters

Shanghai: 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.

“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% of the firm.

Alibaba did not immediately respond to requests for comment.

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