Alibaba Invests $50M In App Maker Peel

Hangzhou-based Chinese e-commerce giant Alibaba Group Holdings Ltd. has invested US$50 million in U.S. app maker Peel, according to media reports.

Alibaba, which just completed the world’s largest IPO last month raising US$25 billion on the New York Stock Exchange, previously invested US$5 million last year in one of the start-up’s four previous venture funding rounds.

Peel, based in Mountain View, California, is a smart pone mobile app that allows users to remotely control their home video and TV contents. It claims to have 90 million users.

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