Chat app Tango raises a $280m mega round led by Alibaba, as it reaches 70m active users

It seems that 2014 is shaping up to be the year of mobile messaging. Hot on the heels of Facebook’s $19 billion deal to acquire WhatsApp and Rakuten’s $900 million acquisition of Viber, Tango — a free messaging and calling app for iOS and Android — has announced a $280 million funding round led by Chinese e-commerce giant Alibaba. Alibaba — which generates more revenue than Amazon and eBay combined — is providing $215 million towards the round in exchange for an undisclosed, “minority” stake and board seat — existing investors are covering the rest of the round. The fresh...



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