(Yicai Global) Dec. 20 -- Chinese e-commerce stalwart Alibaba Group Holding Ltd. [NYSE:BABA] is reportedly planning to acquire online video platform AcFun.

Yunfeng Capital, which Alibaba chairman Jack Ma co-founded, is in talks with the video website over a financing and restructuring deal which could see Yunfeng take a controlling stake in the platform, Caijing Magazine reported.

The venture capital firm values AcFun at around CNY1 billion (USD152 million) and hopes to buy a 20-plus percent stake in it, the report quoted a person familiar with the deal as saying. Alibaba-affiliated Heyi Group invested USD50 million in the video platform in 2015. If the planned agreement goes ahead, the online retail giant will hold more than 50 percent of the company's shares.

AcFun was China's first online video site to feature bullet screens -- real-time comments from viewers -- but it hasn't fared well this year. Regulators ordered it to take corrective measures after finding that it did not have a license to stream videos online, and speculation surfaced that they shut down the platform after users were unable to log into the website or app for three straight days in November.