Get All Access for $5/mo

Alibaba Wages $215 Million to Dance With Messaging App Tango On the heels of WhatsApp's $19 billion acquisition by Facebook, the Chinese web titan dominated the latest round of fundraising for rival messaging platform Tango.

By Geoff Weiss

Opinions expressed by Entrepreneur contributors are their own.

tango.me

Just days after announcing plans to file for a U.S. IPO, Alibaba is making waves yet again -- this time, in the white-hot mobile messaging space.

With an investment of $215 million, the multi-tiered Chinese web titan dominated the latest round of fundraising for Tango, a free messaging platform that was founded in 2009 and currently counts 200 million members in more than 224 countries.

All told, the round closed at $280 million, with the remaining $65 million coming from prior investors. Tango has now raised a total of $365 million, according to CrunchBase.

Related: WhatsApp's Epic Fail Was a Rival App's Exponential Gain

Though these numbers pale in comparison to the astronomical $19 billion garnered by WhatsApp in its acquisition by Facebook, it nevertheless indicates that messaging apps have landed squarely in the sights of today's web leaders.

Tango has sought to distinguish itself from rival WhatsApp and other competitors such as the Skype-like Viber -- which was acquired last month for $900 million -- by throwing social networking features into the mobile messaging mix. For instance, users can share music via Spotify integration, or play online games together, the company said.

"Alibaba is a renowned disruptive innovator," said Tango's CEO and founder, Uri Raz, "and their investment in Tango is a testament to our strategy and a clear indication of the future potential of how content and services will be delivered to consumers."

Related: WhatsApp Co-Founder's Reaction to Snapchat: 'I Don't Give a Sh-t About This'

Geoff Weiss

Former Staff Writer

Geoff Weiss is a former staff writer at Entrepreneur.com.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Side Hustle

This 20-Year-Old Student Started a Side Hustle With $400 — and It Earned $150,000 Over the Summer

Jacob Shaidle launched his barbecue cleaning business Shaidle Cleaning in 2021 when he was just 15.

Business News

Mark Zuckerberg Is Now the World's Second Richest Person, Behind Elon Musk

Meta's CEO jumped ahead of Jeff Bezos in Bloomberg's rankings this week.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Barbara Corcoran Says This Is the One Question to Ask Before Selling Your Home

Barbara Corcoran sold The Corcoran Group in 2001 for $66 million.

Growing a Business

The Top 5 AI Tools That Can Revolutionize Your Workflow and Boost Productivity

Discover the top 5 AI tools for marketing and content creation that every marketer needs to know.