Alibaba Invests $120 Million In Mobile Gaming Firm

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Alibaba Invests $120 Million In Mobile Gaming Firm

by Wochit 0:30 mins

Alibaba Invests $120 Million In Mobile Gaming Firm

by Wochit 0:30 mins

Alibaba Group is backing another California startup, announcing a $120 million strategic investment in gaming company Kabam Inc. and a partnership to publish and distribute its free-to-play mobile games. The deal, which values San Francisco-based Kabam at more than $1 billion, comes after The Wall Street Journal reported Alibaba had held talks regarding a financing round for Snapchat.

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