If only Alibaba could print money like it is printing movie tickets. Hong Kong-listed Alibaba Pictures, nearly half owned by China’s ecommerce giant Alibaba Group, said Sunday its online movie ticketing platform raised $260 million in fresh financing, giving the unit a $2.1 billion valuation. Investors in the ticketing unit include Alibaba’s finance affiliate […]
Alibaba Pictures announced on Sunday its online lottery ticketing platform raised $ 260 m in fresh financing , which gave it a $ 2.1bn investment , exceeding its estimated evaluation of $ 266 m , given only 5 months ago by an independent appraiser . This showed one success of many future battles in the industry for online - to - offline sales as Chinese retail companies began to grow furiously to enter markets such as delivery , groceries , laundry and movies .