Umeng confirms acquisition by Alibaba

By VCPOST Staff Reporter

Nov 21, 2013 03:31 AM EST

Analytics provider Umeng confirmed that it was acquired by e-commerce site Alibaba. The financial terms of the deal was not disclosed, according to a report published by TechCrunch.

The acquisition deal comes with the trend of China-related mobile acquisitions. Earlier this year, search engine giant Baidu recently acquired Android app distributor, the report stated.

Following the transaction, Umeng will operate as an independent subsidiary of Alibaba. The latter is reportedly planning an initial public offering (IPO) soon. The newly formed company plans to expand its portfolio of services for developers. They plan to add other services such as push notification management and a software development kit (SDK) for identity handling, the report said.

Umeng has collected data from 180,000 apps and 590 million active devices in China. Back in the spring, the startup was rumored to be worth USD70 million to USD80 million. The firm raised USD10 million in funding from Matrix Partner's China arm, TechCrunch reported.

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics