The Chinese internet company Alibaba has invested 215 million dollars, converted approximately 156 million euros, in Whatsapp competitor Tango in a new investment round. Previous investors also invested again.
In total, Tango raised a total of 280 million dollars in this investment round, converted approximately 202 million euros, Re/code reports. Since its foundation, the American start-up has already raised 367 million dollars, converted 267 million euros, from investors. The money will mainly be used to hire more people and expand the infrastructure.
Tango initially focused on offering a VoIP service. However, due to the increasing popularity of messaging services, the company started to focus on this. The company now has two hundred million users, of which seventy million people use the applications every month. In order to distinguish itself from other services, the company also offers users the possibility to play games or share music with each other via the platform.