On the morning of March 22nd, there were rumors circulating in the market that Alibaba would sell a portion of its equity in Bilibili (Bilibili) to raise $357.8 million.
Alibaba insiders told Chao News reporters, "This sale is mainly based on Alibaba's own capital management goals and will not affect the cooperation between the two parties in business. Alibaba's related businesses will continue to strengthen cooperation with Bilibili in various fields."
This is also seen by the outside world as another move by Alibaba to accelerate its exit from non core assets.
According to media reports, the collaboration between Alibaba and Bilibili began in 2018. In December 2018, Bilibili and Taobao announced a strategic partnership in the commercial operation of content e-commerce and Bilibili's own IP. In February 2019, Bilibili received strategic investment from Alibaba.
In recent years, the operation of transferring from Bilibili to Taobao has become increasingly smooth. Just a week ago, Bilibili launched a one click direct live streaming service to Taobao. This is another move by Bilibili to bridge the platform's dimensional wall and accelerate its commercial layout.
Not only Bilibili, but also Alibaba has repeatedly reduced its holdings in companies such as Light Media, Shangtang Technology, Huayi Brothers, and Xiaopeng Motors.
Alibaba Group Chairman Cai Chongxin once stated in a financial report conference call that Alibaba's sale of non core assets is progressing smoothly. As of the first nine months of the fiscal year ending in December last year, Alibaba Group completed the withdrawal of $1.7 billion in non core assets and is actively studying how to withdraw some listed companies.
In the eyes of the outside world, this is Alibaba's clear strategic focus and priority for the group last year, making resolute choices around its main business, and continuing to focus on the two core businesses of e-commerce and cloud computing.