Alibaba Invests $50 Million in Smart Remote App Peel

Follow Us

Alibaba is inching deeper into consumers' homes with its latest investment

The Chinese ecommerce giant has invested $50 million into Peel, a startup that transforms iPhones and Android phones into smart remotes and helps promote entertainment content. News of the investment comes just weeks after Alibaba's record-breaking IPO.

See also: 10 Things You Should Know About Jack Ma, Founder of This Year's Biggest Tech IPO

"They see it as a very strategic product because Alibaba has interest in mobile, TV and entertainment. That's the triangle that they are really interested in," Bala Krishnan, cofounder and president of Peel, told Mashable in an interview this week Read more...

More about Funding, Startups, Peel, Alibaba, and Business