Video Communication Platform Tango Lands $280M Series D
March 21, 2014
Tango, a mobile video communication service, has raised an enormous $280 million Series D financing round led by China's Alibaba, which contributed $215 million. The new investment brings Tango's total to-date funding to about $377 million and reportedly values the company at over $1 billion. Previous financings include a 2011 $44 million Series B round ($163 million valuation) and a 2012 $42 million Series C round ($417 million valuation).
Launched in 2010, Tango enables its 200 million registered users to make free video calls, make free phone calls and send free video messages over 3G, 4G and Wi-Fi. The company has also added new features to its platform, including photo- and music-sharing and gaming. Other Tango backers include Draper Fisher Jurvetson, Maven Ventures, Qualcomm Ventures and TransLink Capital.