Alibaba investment gives Tango a reason to dance

March 20, 2014

Tango is joining the conga line of mobile messaging services that have turned into hot commodities as more people use them to communicate and share photos, music and other content.

China's Alibaba Group is making the latest big bet on the trend with a $215 million investment in Tango and its 200 million registered users.

Another group of investors that includes Yahoo Inc. co-founder Jerry Yang is anteing an additional $65 million to raise the total funding round to $280 million.

Alibaba is buying into Tango's future just a month after online social networking leader Facebook Inc. announced plans to acquire mobile messaging service WhatsApp for $19 billion. Another mobile messaging specialist, Viber Media, sold for $900 million last month to Japan's Rakuten Inc.

Explore further: Japan net retailer Rakuten to buy Viber for $900M (Update)

Related Stories

WhatsApp deal highlights suite of similar apps

February 20, 2014

Facebook's announcement it is paying $19 billion in cash and stock to acquire WhatsApp is a milestone event in the short history of mobile messaging apps. Hundreds of millions of people have downloaded such apps to their ...

WeChat: China's popular mobile messaging app

February 20, 2014

As Facebook snaps up smartphone messaging service WhatsApp for a monumental $19 billion in cash and shares, focus has turned to its rivals. Here are some background facts about China's popular mobile messaging application ...

Facebook deal sends message to WhatsApp's Asia rivals

February 21, 2014

Facebook's stunning $19 billion deal for messaging service WhatsApp places the social network in an arena where competition is fierce, particularly in Asia, where fast-growing chat rivals dominate their home markets.

Recommended for you

Glider pilots aim for the stratosphere

November 20, 2015

Talk about serendipity. Einar Enevoldson was strolling past a scientist's office in 1991 when he noticed a freshly printed image tacked to the wall. He was thunderstruck; it showed faint particles in the sky that proved something ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.