Alibaba, world’s biggest e-commerce company, has acquired Youku Tudou – the Chinese video streaming giant. Youku Tudou is popularly known as ‘China’s YouTube’. It has a 21% share of the video market in China. The entire process took 6 months and has been valued at $4.2 billion. Following this buyout, it is expected that Alibaba will be integrating videos into its e-commerce model like Amazon has used for in-house video streaming services with Amazon Prime. Alibaba has a film subsidiary, Alibaba Pictures Group and this is expected to be the beginning of video streaming solution from the group.
Source: Hollywood Reporter