"Nobody will remember whether your stock went up or down on the debut in 10 years' time."Ĭhen has been seen as the real driver of Bilibili's success in recent years, persuading Chinese tech rivals Tencent and Alibaba to come on board as early investors as well as Sony. Hk960m network chinese taptap bilibililiaotechcrunch driver# Videos "will be a major trend for the internet industry over the next three to five years," Chen told Bloomberg. "The market will be in ultra-high-speed growth for the next several years. Popular video platforms, like us, will all have great opportunities.Competition in China’s gaming industry is getting stiffer in recent times as tech giants sniff out potential buyouts and investments to beef up their gaming alliance, whether it pertains to content or distribution.īilibili, the go-to video streaming platform for young Chinese, is the latest to make a major gaming deal. It has agreed to invest HK$960 million (about $123 million) into X.D. Network, which runs the popular game distribution platform TapTap in China, the company announced on Thursday.ĭual-listed in Hong Kong and New York, Bilibili will purchase 22,660,000 shares of X.D.’s common stock at HK$42.38 apiece, which will grant it a 4.72% stake.
The partners will initiate a series of “deep collaborations” around X.D.’s own games and TapTap, without offering more detail. Hk960m network chinese taptap bilibililiaotechcrunch series# Though known for its trove of video content produced by amateur and professional creators, Bilibili derives a big chunk of its income from mobile games, which accounted for 40% of its revenues in 2020. Hk960m network chinese taptap bilibililiaotechcrunch professional#
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