Alibaba invested USD 215 million while the remainder of the funding came from Tango’s prior investors, which include Access Industries, Draper Fisher Jurvetson and Jerry Yang, a co-founder of Yahoo.
The investment gives Alibaba a minority stake in a messaging service with 200 million registered users and 70 million active users. Tango claims significant traction in North America, the Middle East, Taiwan and Singapore.
In recent news, Alibaba has revealed plans to go public on a US stock exchange and allegedly raise USD 15 billion in an initial public offering (IPO).
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