Alibaba invests $50 million in TV remote app maker Peel

[Wireless News]

http://l3.yimg.com/bt/api/res/1.2/hnllfoUzlHJybtpcUNqx1A--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9Njk7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2014-10-09T154731Z_1006990001_LYNXNPEA980QI_RTROPTP_2_CTEC H-US-PEEL-FUNDING.JPG (http://news.yahoo.com/alibaba-invests-50-million-tv-remote-app-maker-154731042--finance.html)(Reuters) - Peel, the maker of an app that acts as a "smart remote" for TVs, said it secured an additional $50 million in funding from Chinese e-commerce giant Alibaba Group Holding Ltd . The Peel Smart Remote app, launched in 2012, turns Android and iOS smartphones and tablets into remote controls that work on TVs, PCs, air-conditioners and other smart appliances. The California-based startup says it has more than 90 million users in 200 countries. Alibaba, whose recent initial public offering in the United States was the biggest in history, invested an initial $5 million in Peel in 2013. ...



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