Chinese language net big Alibaba is making an enormous ‘strategic funding’ in smartphones
What do you do once you’re the most important on-line retailer on the planet, with an IPO valued at greater than Amazon and eBay, mixed? You do all types of issues, however you additionally determine to throw some substantial money right into a smartphone maker. On this case, Alibaba says it is shopping for a minority stake in Meizu for $590 million — making its current $10 million funding in OUYA appear to be spare change. In line with a joint assertion from each Meizu and Alibaba, it’s going to assist the online big unfold its personal cellular working system by way of Meizu’s smartphones (maintaining the purchasers coming the Alibaba’s myriad providers), whereas giving the telephone maker higher gross sales clout and visibility. China’s e-tailing beast may even hope the “strategic funding” will assist it compete higher with native rival Tencent, who’s managed to say Chinese language smartphone screens with its WeChat messenger app.