In brief: Alibaba buys 8% of Bilibili

• Alibaba Group said Thursday that its ecommerce retail platform Taobao bought 24 million shares of popular Chinese online video platform Bilibili, owning an 8 percent stake.
• Bilibili listed on the Nasdaq in March last year.
• Earlier in December 2018, the two sides announced they had entered into a business collaboration agreement, under which Bilibili and Taobao were expected to develop a dynamic ecosystem that would better connect creators, merchandise, and users on both platforms.

Source: Xinhua