Alibaba invests in TV-control app maker Peel

Peel Inc., a developer of software that turns smartphones and tablets into a universal television remote control, has nabbed an undisclosed amount of capital from Chinese e-commerce giant Alibaba Group.

The five-year-old Mountain View-based company, led by CEO Thiru Arunachalam, has raised nearly $40 million in venture capital since 2009 from Harrison Metal, Lightspeed Venture Partners, Redpoint Ventures and Translink Capital.

China-based Alibaba, the world’s biggest e-commerce company, did not disclose plans for investing in the local firm. Alibaba just this week launched San Mateo-based shopping website 11 Main, where merchants sell goods focused on high-end buyers. The company is set to go public this year in what could be the biggest IPO in U.S. history.


Published On: August 31st, 2022 / Categories: Uncategorised /

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