As part of Alibaba Group’s “live @ Alibaba” vision to diversify the company’s products and services and become central to the everyday lives of consumers, it invests $50 million in smart remote app Peel.
According to Re/code, Alibaba was attracted to Peel’s mobile app install base of 96 million people. Alibaba previously invested $5 million in Peel as part of a $20 million venture investment and then this $50 million in late spring. Peel decided to announce it after Alibaba’s IPO.
Taobao, subsidiary of Alibaba Group, recently agreed to invest RMB2.81 billion in Beijing Shiji Information Technology Co. Ltd (Shiji Information), a China-based hotel information technology provider.