Chinese video streaming platform Bilibili received a $400 million equity investment from Sony Corp. as the two entertainment companies seek to further collaborate in anime and video games, Bilibili said Thursday.
Sony, through its wholly owned subsidiary Sony Corp. America, will subscribe for 17,310,696 newly issued Class Z ordinary shares of Bilibili at $23.1071 a share, Bilibili said.
Upon closing, Sony will beneficially own about 4.98% of Bilibili’s total issued shares, with a lock-up period of six months.
Sony’s investment will “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 gaming,” said Bilibili Chief Executive Chen Rui.
Established in 2009, Bilibili is backed by Tencent and Alibaba. The platform is particularly popular among China’s post-millennial Generation Z for its anime, comics and games, attracting more than 130 million monthly active users.
– This article originally appeared on Caixin Global.