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Chinese e-commerce behemoth is expanding its control of online ticketing sales with the acquisition of Damai.cn.
Alibaba’s music division will be the vessel in which Damai.cn operates, and the two businesses will provide services that connect musicians with their fans.
Alibaba created a cultural and entertainment group last November to put businesses such as online video platform Youku Tudou, browser company UCWeb, Alibaba Pictures, Alibaba Music, Alibaba Sports and Alibaba Digital Entertainment under one umbrella.
Zhang Yu, vice president at Alibaba and secretary at cultural and entertainment group, will be appointed as Damai.cn’s new chief executive officer.
Founded in 2004, Damai.cn is an online ticketing platform in China, selling tickets of concerts, dramas, operas, and sports matches. The company claims to have hundreds of millions registered users, and has sold tickets for over 1.8 million events in 330 cities in the world.
Financial terms of the deal were not released.
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