It is reported by 36Kr, and confirmed by several insiders, that Alibaba is taking stakes in Bilibili, shortly after Tencent becoming its second-biggest shareholder earlier in October. Accepting the new round of investment will evolve Bilibili into an array of pets, level with Didi and the Little Red Book, favored by two of the most Chinese internet giants, which are hard to find among hundreds of streaming applications. The movement indicates the powerful resolution from Alibaba to win traffics among young users. However, Bilibili officially denied the news yesterday.
