Bilibili released a message early Wednesday morning to announce failures in its server room, resulting in the site’s inaccessibility. The firm’s technical team has since checked and fixed the problem, and the service has now returned to normal.
Both the web page and mobile terminal of “Bilibili” were inaccessible, quickly attracting the attention of netizens. The hashtag “Bilibili inaccessible” soon topped Weibo’s trending topics list. Furthermore, the company’s share price dropped for a while due to the server failure.
One online user said, “I thought something was wrong with my phone’s wifi. I uninstalled and reinstalled it, but it still didn’t work. Then I just saw the trending topic on Weibo.”
By 2:15 am on Wednesday, all functions of Bilibili were returned to normal.
Pandaily previously reported that Bilibili Chairman and CEO Rui Chen said on June 26, the platform’s 12th anniversary, that the average MAU of Bilibili reached 223 million, of which users aged 35 and below accounted for more than 86%.
Regarding the number of content creators, in the first quarter of the year, there were 2.2 million active UPs in Bilibili per month, with an average of 7.7 million videos created monthly. The first quarterly report also showed that Bilibili‘s revenue in the period reached 3.9 billion yuan, a year-on-year increase of 68%, while net losses amounted to 905 million yuan, up 67.9% year-on-year.
It is unclear whether Bilibili‘s late night malfunction influenced the firm’s performance in the US stock market, where its share price shrank at one point by as much as 3.26%. In the end, the firm closed trading with a gain of 3.18% on the day.
Bilibili is now a leading Chinese video streaming website famous for its “danmu” function (“bullet comments” in Chinese), which allows users to post and view moving comments displayed directly on top of video content. The platform began as a site for the creation and sharing of ACG content (animation, comics and games), and has now grown into a highly concentrated cultural community and video website for the younger generation in China.
On March 28, 2018, Bilibili was officially listed on the NASDAQ stock exchange under the trading code “BILI”.
According to the statistics from 21st Century Business Herald, since listing in the US in 2018, Bilibili has raised over 18.435 billion yuan in financing.
As of March this year, Bilibili has raised eight major rounds of financing in the primary market, totalling over $1 billion. The strategic investors are well known, including Tencent, Alibaba, Sony, IDC and many other enterprises.
The market value of Bilibili was only $3.2 billion upon listing. On February 11 this year, the firm’s share price peaked at $157.66 apiece, nearly 13 times higher than at the time of going public, while its overall market value exceeded $50 billion.