Market
What will be the source of the next major investment in Ably by mid-2025?
3
Resolution / Starting Odds
From a Chinese company • 25%
From a US company • 25%
From a South Korean company • 25%
From other regions • 25%
Official announcements, business news outlets
Story
Alibaba Invests 100 Billion Won ($71 Million) in Ably for 5% Stake, Valuing Company at $2.1 Billion
Dec 3, 2024, 09:46 AM
South Korean e-commerce platform Ably has secured a 100 billion won (approximately $71 million) investment from China's Alibaba Group. This investment grants Alibaba a 5% stake in Ably's parent company, ABLY Corp., which is now valued at $2.1 billion. This funding marks Ably as South Korea's first unicorn of 2024. The investment is part of Alibaba's strategy to expand its presence in the South Korean e-commerce market.
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