It’s a real good time for Tango. The social chat app has easily raised the huge amount of $280 million in its Series D round of venture funding. Actually China's giant online retailer firm AliBaba is the major investor that provided a massive $215 million funds for Tango. The Mountain View, California-based messaging app is now said to be valued at more than one billion dollars thanks to AliBaba.
Some other existing Tango investors also contributed to the funding project. DFJ, Qualcomm Ventures and ex-Yahoo CEO Jerry Yang also participated in the funding. Tango has raised about $367 million in venture funding till now.
"Together with some of our prior investors, Alibaba has lead a $280 million Series D funding round. As part of this financing, Michael Zeisser from Alibaba will join our Board of Directors. We welcome Alibaba’s investment in Tango. We know that we will be able to benefit from Alibaba’s expertise," states Tango.
Big news today! Alibaba leads $280 million investment in Tango as we pass 200 million members worldwide.— Tango (@TangoMe) March 20, 2014
"Over the past eight months, Tango has evolved. We’ve introduced a content platform that is now home to more than 30 games. We’ve introduced new social networking features that allow members to share updates or photos and to find new friends. And we’ve introduced social music sharing through integration with Spotify, which means members can now send each other songs," according to a blog by Tango.
For a behind the scenes look at the funding announcement, check out this blog post from the Tango co-founders. http://t.co/fQiOrz0tlc— Tango (@TangoMe) March 20, 2014