Mobile Games Developer Mobao Network Now Wholly Owned by Bilibili
Shanghai-based video streaming platform Bilibili recently acquired a wholly-owned stake in Mobao Network, whose main business is the development of mobile games. According to officially-registered information, Mobao Network’s original shareholders have all withdrawn, while Bilibili has been added as the new shareholder with a 100% stake. The legal executive has been replaced by Zheng Binwei.
Guangzhou-based Mobao Network was established in January 2022 with a registered capital of about 1.074 million yuan ($168,785), and its business scope includes the sale of toys, entertainment products, anime-related game development, software development and cultural product services.
On the evening of March 3, Bilibili released its unaudited financial report for Q4 and the whole year of 2021. The data showed that Bilibili‘s total revenue in fiscal year 2021 reached 19.38 billion yuan ($3 billion), up 62% year-on-year.
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According to the incomplete statistics of domestic media outlet China Entrepreneur, since its first investment in 2013, Bilibili has invested in over 154 enterprises. Among them, more than 50 enterprises received investment in 2021, with an average of one case per week. Moreover, in 2021, the firm’s focus is still on gaming companies, which total 22 and account for nearly half of overall investment.
In addition to the record high number of investments, the total level is also rising. According to its financial report, in 2020, the short-term investment amount of Bilibili reached 3.357 billion yuan and the long-term investment amount was 2.233 billion yuan. This figure reached 15.051 billion yuan in 2020 and 5.503 billion yuan in 2021, while its revenue was only 12 billion yuan in 2020 and 19.4 billion yuan in 2021.