#Alibaba Sinks $215 Million Into Messaging App #Tango, Valuing It At More Than $1 Billion

Alibaba Sinks $215 Million Into Messaging App Tango, Valuing It At More Than $1 Billion


China’s Alibaba is the latest Internet giant to make a bet on the messaging space, and it’s a big one. The company is spending $215 million for a minority stake in the messaging and free-calling app Tango, the startup revealed today.

The investment is part of a $280 million funding round that Alibaba is leading, which also will see other current investors in Tango stump up more capital.

The round values Tango at $1.1 billion, based on a regulatory filing sourced by research firm VC Experts, who estimate that Alibaba’s stake lies somewhere between 20 and 25%. Two people close to the deal confirmed the estimate.

Tango, based in Mountain View, Calif., would not comment on its valuation or the size of Alibaba’s stake.


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A history of #Bitcoin hacks, #ponzi ?

The alternative currency has been plagued by hacks, ponzi schemes and increasingly professional thefts since 2011, explains Alex Hern

Sometimes it seems like not a week goes by without news of some bitcoin service getting hacked and losing everything.

Thankfully, such attacks are rarer than that. But given the size of the bitcoin economy, they are still far, far more common than they have any right to be. A look at the history of bitcoin hacks is a look at the history of bitcoin itself, from its beginnings all the way to the genesis of the professionalised second generation of firms we’re seeing now.

In the interests of fairness, we haven’t covered the black market. While the disappearance of sites like Sheep and Silk Road took a lot of bitcoins with them, that says more about what happens if you dabble in drug dealing than cryptocurrencies overall.


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