AVCJ

Alibaba acquires VC-backed cloud computing Kanbox

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Alibaba Group has agreed to buy Kanbox, a Chinese cloud storage service provider backed by Susquehanna Asia Investment and DCM. The value of the deal was not disclosed.

Alibaba said it hopes to turn Kanbox to a mobile cloud storage service, allowing users to back up their mobile data, such as contacts and text messages, on remote servers, according to Alizila, the company's corporate news website.

Launched in 2010, Kanbox offers an application that allows users to upload, download and sync personal files including photos and other media across computers and mobile devices. It now has more than 15 million users, of which, about 3 million are mobile users.

According to AVCJ Research, Susquehanna committed $5 million to Kanbox two years ago. A few months later, DCM led a $20 million Series B round of investment, in which Susquehanna also participated.

"Personal cloud storage will be a fundamental service for mobile users in the future and will serve as an important touch-point to reach a wider user population," said Florence Shih, an Alibaba Group spokeswoman. "We believe this type of service is synergistic with our existing suite of mobile applications and ecosystem."

Alibaba's cloud computing unit was set up in 2009. Last month, it partnered with ChinaSoft International and the Lishui municipal government for a state-funded cloud project in Zhejiang province.

 

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