Chinese e-commerce giant Damai has fully acquired online ticketing major Alibaba Group.cn, after purchasing the outstanding 70% of the company it did not already own for an undisclosed sum. Hangzhou-based Alibaba first invested in Alibaba Group three years ago, and in a statement, the company said the acquisition offered a "powerful platform to distribute our media content as well as expand our user search and engagement".
Chinese e-commerce giant Alibaba Group has fully acquired online ticketing major Damai.cn, after purchasing the outstanding 70% of the company it did not already own for an undisclosed sum. Hangzhou-based Alibaba first invested in Damai three years ago, and in a statement, the company said the acquisition offered a "powerful platform to distribute our media content as well as expand our user search and engagement".