Alibaba Leads $280M Investment In Messaging App Tango

Law360, New York (March 20, 2014, 12:32 PM EDT) -- China-based online shopping giant Alibaba Group Holding Ltd. said Wednesday it has invested $215 million in Tango, a California-headquartered mobile messaging service, while other, prior investors kicked in $65 million more.

Tango, which provides video, voice, texting and content, has grown its user base to 200 million people, double last year's number of users, it said. The move follows a series of competitive investments in the online startup world both in the United States and China as big players like Alibaba and Facebook Inc. try to...
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