Taobao Film received 1.7 billion yuan in Series A financing, valued at 13.7 billion yuan

On May 15, 2016, Alibaba Pictures Group issued an announcement announcing that the company's Internet ticketing business platform "Taobao Film" received a Series A financing of 1.7 billion yuan. After this round of financing, the overall valuation of Taobao Film reached 13.7 billion yuan.

On May 15, 2016, Alibaba Pictures Group issued an announcement announcing that the company's Internet ticketing business platform (hereinafter referred to as "Taobao Movies") had received a Series A financing of 1.7 billion yuan. The overall valuation of Taobao Movies after this round of financing reached 13.7 billion yuan.

The announcement shows that the Series A financing of Taobao Films was led by CDH Investment, Ant Financial, and Sina.com, and many institutions such as Hehe Films, Bona Films, Huace Films, Nanpai Pan Entertainment, and Lianrui Films participated.

Taobao Movies was launched at the end of 2014. After a year of rapid development, it has now become one of the most important online movie ticketing platforms in China. Data shows that Taobao Movies provides online seat selection and ticket purchase services for more than 5000 theaters across the country, covering theater box office accounting for 95% of the country's total box office.

At the end of 2015, Alibaba Pictures acquired the Taobao movie business from Ababa Group. After a series of business integrations, Taobao movies have become an important part of Alibaba Pictures 'Internet promotion and distribution business segment, and it is also the entire industry that Alibaba Pictures is building. A key part of the chain entertainment platform.

After integrating into the Alibaba Pictures ecosystem, Taobao Films 'business form has been greatly enriched. Now it has online and offline two-way publicity and distribution capabilities, and has become a pan-entertainment marketing platform with Internet genes.

The business collaboration with Alibaba Pictures 'Yueke Software allows Taobao Films to intervene in theater application scenarios, qualitatively improving its comprehensive service capabilities in terms of member management, film services and theater Internet upgrades.

The above synergies have helped Taobao movies grow rapidly in the market. Data shows that in 2015, Taobao Films cooperated with 84 films including "Mission Impossible 5","Dragon Quest", and "Charlotte Trouble" through various methods such as distribution and ticketing cooperation. The total box office of cooperative films reached 22.6 billion yuan, accounting for more than 50% of the total national box office in 2015.

Zhang Qiang, CEO of Alibaba Pictures, said that Taobao Films is an important part of Alibaba Pictures 'Internet publicity system and a key link connecting consumers and the film industry."The successful completion of Series A financing proves Taobao Films' business strategy and market prospects and team operation capabilities have been recognized by the industry. In the future, Taobao Films will continue to create more value for the market, partners and Alibaba Pictures investors with more abundant resources and financial support."

Xie Fang, managing director of CDH Investment, who led this round of investment, said: "We are very happy to be able to invest in Alibaba Pictures 'Taobao film business. Since its establishment at the end of 2014, Taobao's movie business has grown significantly. We are confident that its team can fully realize its potential and lead the business to continue to develop."

Yang Wei, A representative of Heyhe Pictures, who participated in the A round of financing of Taobao Film, said: "We believe that the film industry experience and resources possessed by Taobao Film will bring synergy effects to the development of our partners. Like all round of financing investors, We are full of expectations for the prospects of this platform."

Editor: vian