Is NetEase owned by Tencent?

NetEase is not owned by Tencent, but a separate individual; and NetEase cooperates with Alibaba. In September 2019, NetEase and Alibaba jointly announced a strategic cooperation; Alibaba Group fully acquired NetEase's cross-border e-commerce platform Kaola, and Alibaba participated in the financing of NetEase Cloud Music as a leading investor.

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NetEase is not owned by Tencent, but a separate entity. NetEase is not owned by Tencent or Alibaba.

NetEase Corporation

NetEase Corporation (NASDAQ: NTES) was founded in Guangzhou in 1997 by founder and CEO Mr. Ding Lei. Listed on the NASDAQ stock exchange in the United States, it is China's leading Internet technology company. In terms of developing Internet applications, services and other technologies, it has always maintained its leading position in the Chinese industry. With a strong sense of mission for China's Internet development and the vision of creating a better life, NetEase uses the most advanced Internet technology to strengthen the exchange and sharing of information between people.

NetEase has launched a variety of services such as portals, online games, e-mails, online education, e-commerce, online music, and NetEase CC live broadcasts. NetEase's headquarters project in Guangzhou Tianhe Smart City is planned to be completed in January 2019, and NetEase's game headquarters will be settled there. In 2016, gaming business revenue accounted for 73.3% of NetEase’s total revenue. In 2011, NetEase Hangzhou Research Institute was opened. NetEase Media and other businesses are in Beijing. NetEase launched NetEase Cloud Music and other projects in Hangzhou.

In 2019, NetEase further promoted strategic focus, adhered to the field of content consumption, actively deployed core tracks such as games, education, music, and e-commerce, and achieved major breakthroughs. While maintaining steady growth, NetEase's Youdao, innovation and other business segments have exploded with strong potential, providing a steady stream of momentum for future long-term development.

NetEase and Alibaba Cooperation

In September 2019, NetEase and Alibaba jointly announced a strategic cooperation. Alibaba Group fully acquired NetEase's cross-border e-commerce platform Kaola for US$2 billion; at the same time, Alibaba participated as a leading investor in NetEase Cloud Music's US$700 million round of financing.

NetEase CEO Ding Lei said that he is very happy to reach a cooperation with Alibaba. This is in line with NetEase's strategic choices in the new era and is conducive to the long-term development of all parties. NetEase hopes that Kaola can continue to provide users with high-quality cross-border e-commerce services within the Alibaba ecosystem. NetEase will continue to promote the focus strategy, concentrate resources on advantageous areas, and create continuous value for users through continuous innovation. NetEase will also continue to strongly support the development of NetEase Cloud Music, help Chinese original musicians create better works, realize bigger dreams, and provide Chinese users with world-class music services. At the same time, NetEase will continue to contribute vitality to the development of the industry based on the principle of independence and an open and inclusive attitude.

Alibaba Group CEO Zhang Yong said that we are confident in China's imported consumer market. We are also grateful to NetEase for incubating and nurturing an excellent cross-border e-commerce platform. We welcome Kaola to join the Alibaba family. . Liu Peng, general manager of Tmall’s import and export business group, will concurrently serve as CEO of Kaola. The Kaola brand will continue to operate independently. China's import e-commerce is still in its early stages, and China's import space will continue to expand. In the future, Alibaba will make every effort to give full play to ecological synergies and continue to optimize the imported goods consumption experience of Chinese consumers. At the same time, we are also very happy to participate in the development of NetEase Cloud Music and hope that there will be more chemical reactions between both parties in the cultural and entertainment sectors in the future.

As for the issue that everyone is most concerned about, whether membership cards can be used universally in the future, Alibaba said: "Both parties will continue to cherish the rights and interests of Kaola users and bring better benefits to consumers by leveraging the synergy between the two parties." Product and service experience."

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