Why Is Tencent Investing Nearly $320 Million in Bilibili? [The Motley Fool]
Bilibili Inc. - American Depositary Shares (BILI)
Last bilibili inc. - american depositary shares earnings: 3/17 07:00 pm
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Source: The Motley Fool
The tech giant needs some more exposure to China’s growing Gen Z market. Tencent ( NASDAQOTH:TCEHY ) recently announced that it will invest about $318 million in Bilibili ( NASDAQ:BILI ) by buying 25 million newly issued Class Z shares at $12.67 per share. The investment will give Tencent a 12% stake in the Chinese tech company, which went public in March. This move might seem like another scattershot investment for Tencent, which owns stakes in a wide range of companies across multiple industries. But if we look closer at this deal, we'll realize that it's a calculated move that directly complements Tencent's recent restructuring. Image source: Bilibili. Why Tencent needs Bilibili Bilibili generates most of its revenue from popular mobile games like Fate/Grand Order and Azur Lane . It also serves digital content -- like streaming videos and online comics -- on its mobile app and website. The company's revenue rose a whopping 76% annually to 1.0
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News
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- Spearheading the New Era of Water Purification: ANGEL Space Master Series New Product Launch Event Held SuccessfullyPR Web
- Bilibili Inc. (NASDAQ:BILI) Shares Could Be 24% Below Their Intrinsic Value Estimate [Yahoo! Finance]Yahoo! Finance
- Bilibili Inc. to Hold Annual General Meeting on June 28, 2024 [Yahoo! Finance]Yahoo! Finance
BILI
Earnings
- 3/7/24 - Miss
BILI
Sec Filings
- 4/10/24 - Form 6-K
- 4/9/24 - Form 6-K
- 4/9/24 - Form 6-K
- BILI's page on the SEC website