China’s Alibaba bets $215 million on chat app Tango

China's Alibaba bets $215 million on chat app Tango

Fb has made it a reasonably darn good time to be a messaging app maker — simply ask Tango. It is acquired $280 million in funding together with $215 million from Chinese language e-commerce behemoth Alibaba, which is trying to bolster its forces towards competitor Tencent. That provides it a minority curiosity within the video chat app, which has 70 million lively customers and 200 million in complete. Tango has additionally stretched out just lately with a social platform SDK for different apps that makes it simpler for customers to ask pals, for example. In accordance with Bloomberg, Alibaba might go public as quickly as subsequent month and its funding means Tango could possibly be value as a lot as $2 billion. We’ll write a witty conclusion in a second, however first we will go study some coding.

Replace: Reuters has corrected its article to underscore that Alibaba led a $280 million funding spherical, however solely guess $215 million of its personal money. We have up to date our submit to mirror that.

Supply: Tango

Extra Protection: Reuters, Bloomberg

Tags: Alibaba, chat, funding, Tango, VideoChat, WeChat

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