The Chinese tech giant is continuing its dash for new sources of growth, this time with a $215m investment in US chat app Tango.
The deal values Tango at $1bn. The video-centric chat app has 200m registered users spread across the US, Europe, Middle East and Asia.
For Alibaba, likely to go public in New York later this year in what is expected to be one of the largest listings in history, the deal with Tango could help it both strength its presence on mobile phones and broaden its reach outside China.
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