SHANGHAI, China, July 26, 2019 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI), a leading online entertainment platform for young generations in China, today announced that it has signed a definitive agreement to acquire a majority stake in Chaodian Inc. (“Chaodian”), through the injection of capital and the acquisition of equity interests from non-affiliated existing shareholders.
Chaodian runs various off-line events including its flagship concert and exhibition Bilibili Macro Link and Bilibili World. It also operates an industry-related talent agency representing hundreds of artists and entertainment professionals, many of which are Bilibili’s top content creators.
Mr. Rui Chen, Chairman of the Board and Chief Executive Officer of Bilibili, commented, “Our alignment with Chaodian broadens our reach beyond our core online platform and progresses our commercialization efforts. We see clear synergies between our two entities, including the ability to capitalize on Chaodian’s expertise in offline events planning, and talent acquisition and management. Through this partnership, we are better positioned to grow our brand across various high-profile offline events, while enhancing our PUGC commercialization capabilities through closer bonds with Bilibili’s key content creators, strengthening the virtuous cycle of entertainment.”
Upon completion of the transaction, Chaodian will continue to produce and manage Bilibili’s offline-related events and operate talent agency services. In addition, Chaodian will also be responsible for operating the Company’s V-singer business as well as managing the design and production of the Company’s IP-related derivatives.
About Bilibili Inc.
Bilibili represents the iconic brand of online entertainment with a mission to enrich the everyday life of young generations in China. Bilibili is a full-spectrum online entertainment world covering a wide array of genres and media formats, including videos, live broadcasting and mobile games. Bilibili provides an immersive entertainment experience and high-quality content that caters to the evolving and diversified interests of its users and communities, and has built its platform based on the strong emotional connections of Bilibili’s users to its content and communities.
For more information, please visit: http://ir.bilibili.com.
Safe Harbor Statement
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Source: Bilibili Inc.