Taobao Movie sets the scene for $260m series A

May 16, 2016 • Thierry Heles

Alibaba Pictures has attracted capital from a consortium featuring Ant Financial and Sina Corp for its Taobao Movie ticketing service, valuing the subsidiary at $2.1bn.

Ant Financial, the payment services affiliate of e-commerce group Alibaba, and internet company Sina Corp have co-led a RMB13.7bn ($260m) series A round for online ticketing platform Taobao Movie, Reuters reported yesterday.

CDH Investments also co-led the round, which valued the unit at $2.1bn. Media companies Bona Film Group, Hehe Pictures, Huace Media and undisclosed other Chinese entertainment companies also took part in the round, according to a regulatory filing.

Alibaba acquired a 60% majority stake in TV and film…

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