{"id":17237,"date":"2019-09-06T11:17:51","date_gmt":"2019-09-06T11:17:51","guid":{"rendered":"http:\/\/routenote.com\/blog\/?p=17237"},"modified":"2024-03-14T16:22:47","modified_gmt":"2024-03-14T16:22:47","slug":"alibaba-has-bought-a-700m-stake-in-giant-music-streamer-netease","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/alibaba-has-bought-a-700m-stake-in-giant-music-streamer-netease\/","title":{"rendered":"Alibaba has bought a $700m stake in giant music streamer Netease"},"content":{"rendered":"

NetEase is quickly becoming one of the world’s biggest players in world music streaming as Alibaba join their stakeholders.<\/span><\/h2>\n\n\n

China’s internet company boom has seen a lot of massive global players emerge. One of the biggest, Alibaba Group, have just confirmed a major investment in NetEase Cloud Music; one of China’s biggest music streaming services.<\/p>\n\n\n\n

In a deal worth approximately $700 million Alibaba now own a minority stake in the emerging NetEase. Neatease Inc. remain the majority shareholder of the service.<\/p>\n\n\n\n

NetEase’s CEO, William Ding said: “As the controlling shareholder of NetEase Cloud Music, we will continue to fully support the growth of this business, helping it to realise its strategic goals in the music industry.”<\/p>\n\n\n\n

Alibaba Group’s CEO, Daniel Zhang added: “Alibaba looks forward to becoming a partner in the future development of NetEase Cloud Music and exploring innovative collaboration int he digital entertainment space.”<\/p>\n\n\n\n

Alibaba and NetEase’s relationship has grown even tighter with the additional purchase of NetEase’s e-commerce platform Kaola. In a massive $2 billion deal, Alibaba Group have acquired the service to intergrate into Tmall. Kaola will still operate independently as it’s own brand despite integration of the two platforms.<\/p>\n\n\n\n

Zhang spoke on the Kaola deal, saying: “We are pleased to have found a strategic fit for Kaola within Alibaba’s extensive ecosystem, where Kaola will continue to provide Chinese Consumers with high-quality import products and services.”<\/p>\n","protected":false},"excerpt":{"rendered":"

NetEase is quickly becoming one of the world’s biggest players in world music streaming as Alibaba join their stakeholders. China’s internet company boom has seen a lot of massive global players emerge. One of the biggest, Alibaba Group, have just confirmed a major investment in NetEase Cloud Music; one of China’s biggest music streaming services. In a deal worth approximately $700 million Alibaba now own a minority stake in the emerging NetEase. Neatease Inc. remain the majority shareholder of the service. NetEase’s CEO, William Ding said: “As the controlling shareholder of NetEase Cloud Music, we will continue to fully support…<\/p>\n","protected":false},"author":12,"featured_media":17238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[6703,1496,11180,1038,6145,11181,7402,9125],"acf":[],"yoast_head":"\nAlibaba has bought a $700m stake in giant music streamer Netease - RouteNote Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/routenote.com\/blog\/alibaba-has-bought-a-700m-stake-in-giant-music-streamer-netease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alibaba has bought a $700m stake in giant music streamer Netease - RouteNote Blog\" \/>\n<meta property=\"og:description\" content=\"NetEase is quickly becoming one of the world’s biggest players in world music streaming as Alibaba join their stakeholders. 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