Alibaba purchased stake in Tango, a mobile messaging app company. These are exciting times for the company, owning a percentage of the company that is just four years old, but developing quickly into one of the best messaging apps around. They offer a service that stands out from some of their competitors.
Alibaba has invested $215 million into this company, they are looking at expanding their service and this money will help them grow and develop as a company.
For Alibaba, it is exciting times; this is the largest stake they have purchased in a company outside China. Tango is an America based company with a greater user base in North America, Middle East, Taiwan and Singapore.
Apps have become big business in the last few years with the population using mobile technology to allow instant messages or calls, which are free using the data connection rather than the telecommunication network, which can cost or be added to the usage of the phone.
These systems are used heavily by the younger generation to keep in contact with their friends. Any investment in a system that is already popular in this area is going to pay dividends, this is going to add to the success of a company such as Alibaba.
This is just one exciting area that is looking to boost the market share for the Alibaba group; and their impending flotation on the stock market in a few weeks’ time, the date, which is still to be confirmed. The money that they have raised for this new business venture is believed to have come from China; this is the largest acquisition that this company has acquired in the United States, it is just the beginning for this company and the power that it holds in developing and strengthening of this company in the coming months.