Alibaba invests USD 280 million in Tango messaging app

Friday 21 March 2014 10:37 CET | News

Tango, the mobile messaging application-maker, has raised USD 280 million in a new funding round led by Chinese ecommerce provider Alibaba, online media outlet reports.

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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Keywords: Alibaba, Tango, messaging, app, funding, ecommerce
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce