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Alibaba Invests $215 Million that Helps Raise Tango $280 Million

The Calif-based social messaging app Tango has raised $280 million in its Series D round of venture funding. And it has been aided by AliBaba which contributed $215 million.

Mar 20 2014, 5:48am CDT | by

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Messaging App Tango Raises $280 Million Led by Ali Baba's $215 Million

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Alibaba Invests $215 Million that Helps Raise Tango $280 Million

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.

 

"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.

 

 

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.

 

 

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