Alibaba Acquires 100% Shareholding of Youku Movie
Youku Movie Co., Ltd., recently changed its registration status with the Industrial and Commercial Administration. Its original shareholder, Youku Information Technology Co., Ltd., withdrew, and Alibaba Digital Media & Entertainment Group acquired its 100% shareholding.
Youku Movie Co., Ltd. was established in August 2014 with a registered capital of 100 million yuan ($16 million). The company is committed to the development, production and marketing of videos. Its business scope includes the production and distribution of radio and television programs, design of advertisements, cultural exchange, animation design, and other aspects of production.
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Alibaba Digital Media & Entertainment Group was established on March 20, 2017 with a registered capital of 500 million yuan. Its business scope includes children’s indoor entertainment facilities (excluding electronic entertainment), technology development and consultation, software development, and other related businesses.