FUNDING: Tango, the mobile messaging app-maker, announced Wednesday it has raised US$280mil (RM922.04mil) in a new funding round led by Chinese e-commerce giant Alibaba Group Holding Ltd. — Reuters
SAN FRANCISCO: Tango, the mobile messaging app-maker, announced Wednesday it has raised US$280mil (RM922.04mil) in a new funding round led by Chinese e-commerce giant Alibaba Group Holding Ltd.
By almost any measure, the investment amounted to a staggering sum for a mobile app developer. The deal, which came one month after Facebook Inc's stunning US$19bil (RM62.58bil) acquisition of WhatsApp, underscored the lengths that Internet companies are willing to go to gain a foothold in mobile communications.
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