Alibaba Group Holding has acquired Damai.cn, China’s online ticketing major. The amount is undisclosed. The announcement was made on Tuesday.
Alibaba said, “[The acquisition] continues an earnest three-year romance…. Damai will be a powerful platform to distribute our media content as well as expand our user search and engagement… There will be extensive collaboration opportunities with our other entertainment assets including Alibaba Music, Alibaba Pictures and Youku.”
Cao Lei, head of the China E-commerce Research Centre, said “The move to push further into entertainment is set to create the next gold mine for Alibaba.”