Tango netted $215 million from Alibaba with the additional $65 million from some of its prior investors which include Access Industries, Draper Fisher Jurvetson, Qualcomm Ventures, Toms Capital, Translink Capital, as well as Bill Tai, Shimon Weintraub, Jerry Yang, Alex Zubillaga and others.
The Alibaba investment secured the Chinese company a minority stake in Tango and a seat on the start-up’s board. Tango wouldn’t disclose a valuation of the company based on the latest investment. The company also said its number of registered users has doubled to 200 million in the last year, and monthly active users have reached 70 million.
Tango would be using the money to hire talented people, especially in engineering; to bring more content to the platform, such as exclusives with popular musicians; and to pursue international growth.
Tango co-founder and Chief Technology Officer Eric Setton told CNET that the latest round of funding is Tango’s largest by far. Previously, it had raised $87 million. “This round really validates our vision of going beyond simple messaging,” he said, adding that since Tango started adding more social features like song-clip sharing and collaborative gameplay, it has seen engagement double, measured by the portion of people using it on a daily basis out of all its registered users.
The company’s primary growth focus has been in the US, where about 25 percent of its users reside, but the influx of capital means it will be able to present internationally in a more deliberate way, he said. Tango also has a large presence in the Middle East and in parts of Asia like Thailand, Taiwan, Hong Kong, and Singapore.
About: Tango is a free mobile messaging service with 200 million registered members. Through communication, social features and a compelling content platform, Tango members discover engaging ways to connect, get social and have fun. Tango has enhanced its messaging service with an innovative content platform for game developers, advertisers, and others. Tango is available on iPhone, iPad, Android phones and tablets, Blackberry, Kindle Fire and PC and works across platforms and networks. Founded in September 2009, Tango is based in Mountain View, California.