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Market
Will Ably launch operations in a new international market by end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Press releases from Ably, international business news
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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Similar markets
Europe • 25%
Asia • 25%
South America • 25%
Africa • 25%
Less than 10 • 25%
10 to 20 • 25%
21 to 30 • 25%
More than 30 • 25%
North America • 25%
Europe • 25%
Asia • 25%
Other • 25%