In November the company, which currently has a larger market valuation than Walmart following its initial IPO raising $21.8 billion that same month, signed a deal with Huayi Bros, China's largest privately held film company that that covers e-commerce, online entertainment and movie development. The deal will see Alibaba invest 5-10% of the budget on five Huayi films over the next three years with the two working together on distributing the projects. Alibaba also owns a 16.5% stake in online video firm Youku Tudou.