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Official announcement! Ali's $2 billion acquisition of NetEase Koala led NetEase Cloud Music's $700 million new round of financing

via:博客园     time:2019/9/6 9:30:29     readed:54

Author: editor Zhang Chao: peace of mind

On September 6, Alibaba and NetEase jointly announced a strategic cooperation. Alibaba bought the koala, a cross-border ecommerce platform owned by Alibaba, for US $2 billion. At the same time, Alibaba as the leader participated in NetEase cloud music this round of financing of $700 million.

Zhang Yong, chief executive of Alibaba Group, said that Liu Peng, general manager of Tmall Import and Export Group, would also serve as koala CEO.. The koala brand will continue to operate independently. China's import ecommerce is still in its infancy, China's import space will continue to expand, Ali will do his best in the future, give full play to ecological synergy, and continue to optimize the imported commodity consumption experience of Chinese consumers. At the same time, we are also happy to participate in the development of NetEase cloud music, hoping that there will be more chemical reactions on both sides of the cultural and entertainment sector in the future.

Ding Lei, chief executive of NetEase, said it was happy to work with Alibaba, which is in line with NetEase's strategic choice in the new period and is conducive to the long-term development of all parties. Netease expects koalas to be able to continuously provide quality cross-border e-commerce services to users within the Alibaba ecosystem. NetEase will also continue to strongly support the development of NetEase cloud music, boosting the creation of better works by original Chinese musicians.

According to Alibaba, Netease Koala will not change its name or reduce its staff in the future, but its office address may change.

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It is worth noting that in the acquisition of the Internet koala, Alibaba also participated in NetEase cloud music a new round of financing. Although the two sides did not disclose the share of Ali's stake after the round of financing, but according to investors close to NetEase Yun Music, NetEase Yun Music could be valued at $9 billion or more after the round of financing, with Ali accounting for about 20 percent of the shares.

The investors also revealed that Ali's investment does not care about valuation, does not care how much money to invest, the biggest demand is to hold twice as much shares as Cloud Music's round A investors, that is, about 20 percent after the investment.

From the purpose of cooperation, the two sides cooperate or fill in their respective short boards. In the case of Ali, the company's ambition to take a stake in the cloud is not only limited to the music track, but rather to advance the entire Alibaba's large-and-cultural layout, thereby seizing more of the user's online time. For NetEase music, the main purpose of this search is to increase the cash flow, but does not expect Alibaba to have a multi-intervention on the specific business.

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