Alibaba (BABA) to Launch Netflix-Like Service in China Soon (NFLX)

Alibaba (NYSE: BABA) is planning to launch a Netflix (Nasdaq: NFLX)-like streaming video service in China within the next two months as the market continues to heat up.

Reuters cites commentary from Alibaba's Patrick Liu, who heads the company's digital entertainment unit. The service will be named TBO, or Tmall Box Office. Content will come from China and other countries, and in-house content will also be developed.

News comes following Abliaba's acquisition of a 16.5 percent stake in video streaming platform Youku Tudou (NYSE: YOKU) last year. It wasn't made clear whether TBO would fit with Yokou's platform.

Netflix is lower in early trading Monday.

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