Bilibili (BILI) Surges Over 4% as Alibaba Expands Live Streaming Sales

1 day ago

Bilibili (BILI, Financial) shares rose over 4% in pre-market trading, reaching $19.96. This increase follows news that Alibaba's Taobao has expanded its live streaming sales channel to Bilibili. Zhejiang Taote Software, a subsidiary of Alibaba, recently launched a certified account named "Taobao Seconds Kill" on Bilibili to conduct live sales.

Bilibili has been committed to an open-loop strategy, significantly increasing new customer rates across various vertical industries. During the "Double 11" shopping festival, Bilibili's gross merchandise volume (GMV) surged 154% compared to the previous year's promotional period. Additionally, the number of advertisers on the platform increased by 6.6 times compared to the same period last year.

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