Tango raises $280 million in Series D

Posted Mar 20, 2014

Tango is a social startup app company that has raised $280 million in Series D funding led by Alibaba Group. Alibaba invested $215 million into Tango alone. There was participation from Tango’s existing investors as well. Tango has raised a total of $367 million in venture funding from investors like DFJ, Qualcomm Ventures, Jerry Yang.

Tango’s valuation likely saw a surge after Facebook’s $19 billion acquisition of WhatsApp and Rakuten’s $900 million acquisition in Viber.

Tango started by offering a VoIP service for smartphones, but then added content and social discover features to its apps. Tango currently has 200 million registered users and 70 million use the app on a monthly basis.

[Source: Forbes]