Alibaba Pictures raises $260 million in Series A
Alibaba Pictures, the film and TV subsidiary of China’s Alibaba Group, has raised $260 million in Series A funding for its online ticketing platform, Taobao Movie. The round, led by CDH Investments, Ant Financial Services and Sina, also included Chinese entertainment companies Hehe Pictures, BONA Film, and Huace Media. This reportedly gives Taobao Movie a post-money valuation of $2.1 billion.