![]() The companies did not offer many details about the deal. Bilibili will purchase 22,660,000 shares of X.D.’s common stock. Network, which runs the popular game distribution platform TapTap. The ratio had declined from 71% and 53% in 20, a sign that it’s trying to diversify revenue streams beyond distributing games. Bilibili, one of the main video-streaming platforms for the youth of China, recently announced the company has agreed to invest 123 million into X.D. Though known for its trove of video content produced by amateur and professional creators, Bilibili derives a big chunk of its income from mobile games, which accounted for 40% of its revenues in 2020. The partners will initiate a series of “deep collaborations” around X.D.’s own games and TapTap, without offering more detail. Network, which runs the popular game distribution platform TapTap in China, the company announced on Thursday.ĭual-listed in Hong Kong and New York, Bilibili will purchase 22,660,000 shares of X.D.’s common stock at HK$42.38 apiece, which will grant it a 4.72% stake. It has agreed to invest HK$960 million (about $123 million) into X.D. Bilibili’s investment in TapTap is being looked upon as a step against traditional app distribution channels. ![]() Competition in China’s gaming industry is getting stiffer in recent times as tech giants sniff out potential buyouts and investments to beef up their gaming alliance, whether it pertains to content or distribution.īilibili, the go-to video streaming platform for young Chinese, is the latest to make a major gaming deal. Chinese video-sharing website Bilibili has made its stand clear that it intends to revolutionize the game distribution in China with a 123 million investment in TapTap as reported by Tech Crunch.
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