From PC World: Chinese e-commerce giant Alibaba Group is investing US$200 million in photo-messaging app Snapchat, following a string of prior investments in U.S. tech companies.
The companies did not publicly comment on the deal. But a person familiar with the matter confirmed the investment on Thursday.
The e-commerce firm has been funding both U.S. and Chinese tech companies, as a way to grow the company’s global ecosystem, the source said.
Previous deals made in the U.S. include investing in messaging app Tango, online retail site ShopRunner, and ride-sharing service Lyft.
The activity has sparked speculation that the Chinese e-commerce company is preparing to buy its way into the U.S. market. Last week, Alibaba announced it was opening its first data center in Silicon Valley to target the U.S. cloud computing sector.
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