China’s second-largest gaming company to sell comics assets to rival – TechCrunch

What happened: China’s second-largest gaming company NetEase has agreed to sell its comics business to anime-streaming site Bilibili, a rival of the company. Bilibili says its acquisition includes NetEase Comics’ mobile app, website, and copyrights for a large number of stories on the platform. The two parties will work together to create original comics in the future.

Why it’s important: The move marks a change of track for NetEase, which has sought to expand beyond its core gaming business to the related animation and comics sector. The company reached a partnership with Marvel in May to help introduce the first batch of Chinese superheroes. Bilibili raised $483 million from a U.S. initial public offering in March. Collectively known as ACG fans, the users of anime, comics, and gaming services form a vibrant community in China’s cyberspace. iResearch estimated that the community includes as many as 219 million people.

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at More by Emma Lee

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