--FILE--View of an advertisement for cun.taobao.com, Chinese e-commerce Alibaba's shopping service for rural areas, in Dezhou city, east China's Shand
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Contributor:
Imaginechina Limited / Alamy Stock PhotoImage ID:
W7YEREFile size:
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5472 x 3648 px | 46.3 x 30.9 cm | 18.2 x 12.2 inches | 300dpiDate taken:
8 March 2017Photographer:
ImaginechinaMore information:
--FILE--View of an advertisement for cun.taobao.com, Chinese e-commerce Alibaba's shopping service for rural areas, in Dezhou city, east China's Shandong province, 7 March 2017. Alibaba Group said it has fully acquired online ticketing platform Damai.cn as part of its strategy to push forward entertainment business. Alibaba will acquire the 68 percent of stake of Damai it hasn't owned yet for an undisclosed amount of capital, according to an email statement today (21 March 2017). Yu Yongfu, chairman and chief executive officer of Alibaba Pictures Group and head of Alibaba's digital entertainment division, said the acquisition adds to the company' existing online services including online video and music streaming and would provide wider customer reach. Damai is one of the leading players in the concerts and sports event ticketing sector and Alibaba invested in mid 2014 for a 32 percent stake in Damai.