Alibaba Buys DCM-backed Cloud Computing Firm Kanbox

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.

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