Popular video platforms, like us, will all have great opportunities. "The market will be in ultra-high-speed growth for the next several years. Videos "will be a major trend for the internet industry over the next three to five years," Chen told Bloomberg. "Nobody will remember whether your stock went up or down on the debut in 10 years' time."Ĭhen has been seen as the real driver of Bilibili's success in recent years, persuading Chinese tech rivals Tencent and Alibaba to come on board as early investors as well as Sony. "We wouldn't care too much about short-term performance in the stock market," the 43-year-old billionaire told Bloomberg Television in what the network said was his first interview with international media. Often dubbed "China's YouTube", it allows users to upload and share videos with voiceovers and music added and hosts a significant amount of user generated content.įounded in 2009 by a then 20-year-old college student Xu Yi, it began primarily as a place for fans of gaming and anime to gather and share content but has since spread among Gen Z Chinese users.īilibili chief executive Chen Rui played down short term market price drops, billing his company as a website primed to tap into China's nearly one billion internet users. It is a fast growing video streaming site with around 200 million mostly young Chinese users. Last week American regulators announced plans to force Chinese firms to adhere more strictly to its auditing rules, sparking concerns over potential delistings in the US and a global sell-off in Chinese tech shares. US-China tensions remain at the forefront of investor jitters. The Chinese tech homecomings have continued into 2021 but with less investor enthusiasm.Ī Hong Kong debut by Chinese search engine Baidu last week raised $3.1 billion through its IPO but its shares finished flat on the opening day and have since sunk some 15 percent. Last year Hong Kong raked in an impressive $49 billion in IPOs with hugely popular second listings by the likes of JD.com and NetEase. Over the past 18 months Hong Kong has seen a flurry of Chinese tech firms hold initial public offerings in the city, part of a drive to list closer to home as relations between Beijing and Washington sour. For example, ByteDance acquired Moonton, known for its MOBA Mobile Legends, for $4 billion last month.Bilibili's opening price fell just over 6 percent in early trade after the firm raised around $2.6 billion in a secondary listing on Hong Kong's bourse. Large companies continue to invest in and buy other studios, trying to diversify their businesses and increase their revenues. He also said that TapTap’s success helped games like Genshin Impact skip traditional Android distribution channels dominated by Tencent.īilibili’s latest move is another example of tough competition in the Chinese video games market. “TapTap is disrupting how games are distributed in China with its community-focused platform and 0% take rate fee on IAP,” Niko Partners senior analyst Daniel Ahmad commented. It helps developers release games outside of traditional distribution models and get rid of the high fees charged by other companies, like Xiaomi and Huawei. Ben Koehl, a security researcher for the Microsoft Threat Intelligence Center, said APT31 was using this proxy network to make. Network also publishes games but platform TapTap is its biggest product. A Chinese cyber-espionage group known as APT31 (or Zirconium) has been seen hijacking home routers to form a proxy mesh around its server infrastructure in order to relay and disguise the origins of their attacks. However, the earnings from games fell drastically (compared to 71% ratio in 2018), so the company is now seeking new ways to drive revenues. It published a few titles for the Chinese market, which accounted for 40% of total revenue in 2020. The deal will help the Chinese giant to strengthen its position in the game market.Īlthough its video streaming platform remains its main business, Bilibili isn’t new to the video games industry. Network’s common stock, which will give it a 4.72% stake. According to TechCrunch, Bilibili will purchase 22.66 million shares of X.D.
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