Alibaba Group has agreed to buy Kanbox, a Chinese cloud storage service provider backed by SIG Asia Investment and DCM.
The value of the deal was not disclosed.
SIG committed US$5 million to Kanbox two years ago in series A financing. A few months later, DCM led a US$20 million series B round of investment, in which SIG also participated.
Launched in 2010, Kanbox is one of China’s leading cloud providers. Now it has more than 15 million users.
