Alibaba investment gives Tango a reason to dance

Mar 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: WhatsApp deal highlights suite of similar apps

not rated yet
add to favorites email to friend print save as pdf

Related Stories

WhatsApp deal highlights suite of similar apps

Feb 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 suc ...

WeChat: China's popular mobile messaging app

Feb 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 applicatio ...

Facebook deal sends message to WhatsApp's Asia rivals

Feb 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 ...

Recommended for you

Alibaba makes Wall Street debut

20 hours ago

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

23 hours ago

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

Sep 19, 2014

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0