According to reports in Chinese local media, Bilibili.com announced that they have gained a strategic investment of USD400 million from Sony.
Meanwhile, the two parties will implement cooperation in various sectors, especially in animation and mobile game.
Based on the agreement signed by the two parties, Sony will subscribe 17,310,696 newly issued class Z ordinary shares of Bilibili for total consideration of about USD400 million via a wholly-owned subsidiary. On the completion of the transaction, Sony will own about 4.98% shares of Bilibili.
Commenting on the cooperation, Bilibili’ chairman and CEO Chen Rui said that they are glad to reach cooperation with Sony, a global entertainment and technology leading company. The strategic cooperation will help Bilibili bring more quality contents and better service experience to users, especially in the animation and gaming sectors. They are looking forward to join hands with Sony in a broader area to meet the growing cultural and entertainment needs of users.
Sony is another important strategic investor for Bilibili, following Tencent and Alibaba. In October 2018, Bilibili gained an investment of USD320 million from Tencent; and in February 2019, Alibaba announced to invest in the company.
Source: ChinaTechNews.com
