Following reports that Alibaba Group was close to investing a lot of money in Snapchat, The New York Times reports that the Chinese ecommerce giant is financing a number of tech firms. Already,
Alibaba invested $215 million a messaging app named Tango, in March. Meanwhile, “Alibaba participated in a $170 million round for Fanatics, an online sports memorabilia retailer … And on
Thursday, Kabam, a video game start-up, announced that it has received a $120 million investment from Alibaba.”
Read the whole story at The New York Times »
