China’s Alibaba invests big in video chat app Tango, leading a $280M funding round

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With WhatsApp selling to Facebook for $16 billion, its over-the-top communications rivals were bound to get plenty of attention. It looks Tango is the first to benefit. The video chat and messaging specialist announced late Wednesday it has closed a $280 million funding round, with $215 million coming from Chinese e-commerce giant Alibaba.

Alibaba Holding Group — which is kind of an Amazon, eBay, PayPal and online international trade broker rolled into one – already has big plans in the U.S., planning an IPO on a U.S. stock exchange

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Source: GigaOm.com

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