Bilibili today announced that it has reached an agreement with Sony Corporation of America that will see the PlayStation parent company invest around $400 million into the Chinese online video and mobile gaming platform.
The deal is expected to close tomorrow, and will give Sony a nearly 5% stake in Bilibili. The two companies will also explore potential partnerships "within the area of entertainment business in the Chinese market, including anime and mobile games."
"The strategic investment and business cooperation further align our goals to bring best-in-class content offerings and services to our users, as we increase our domestic stronghold in animation and mobile games," said Bilibili CEO Rui Chen. "We look forward to joining efforts on a broader scale to fulfill the tremendous and growing entertainment needs in China."
PlayStation maker picks up almost 5% of Chinese video and mobile game company
SHANGHAI , April 09, 2020 (GLOBE NEWSWIRE) -- Bilibili Inc. (“Bilibili” or the “Company”) (Nasdaq: BILI), a leading online entertainment platform for young generations in China , today announced that Sony Corporation of America (“SCA”), a wholly owned subsidiary of Sony Corporation (“Sony”) and a