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Alibaba Pictures raises 13.7 bln yuan

CCTV.com

05-16-2016 15:31 BJT

The movies unit of Alibaba Group -- Alibaba Pictures -- has raised about 14 billion yuan for its O2O distribution and promotions subsidiary. The subsidiary -- Taobao Movies -- sells tickets on line and connects to more than 5,000 Chinese theaters.

The Alibaba Group previously owned Taobao Movies directly and transferred it to Alibaba Pictures at the end of last year.

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