Tao Piao Piao
From Wikipedia, the free encyclopedia
Tao Piao Piao or Taopiaopiao (Chinese: 淘票票; pinyin: Táo Piào Piào, lit: 'hunting for tickets') is an online movie ticket distributor and film promotion service.
Together, Taopiaopiao and its main rival Maoyan control approximately 80 percent of movie ticket sales in China.[1]
Formerly known as Taobao Movie, the company was launched in 2014 in the city of Hangzhou, in China's Zhejiang Province.
A 2016 financing round led by investors from CDH Investments, Ant Financial Services Group, and Sina.com valued the company at approximately US$2 billion.[2] In 2017, Alibaba Pictures raised its ownership stake to nearly 97 percent of the company's equity.[3]