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The Alibaba Group Holding Ltd. (NYSE: BABA) share price traded up slightly this morning after the company announced it will be launching its own video-streaming service in China. BABA shares climbed to $87.17 shortly after the opening bell.
The service will be known as Tmall Box Office or TBO. According to Reuters, it will offer a mix of in-house and third-party content, similar to Netflix Inc. (Nasdaq: NFLX).