Alibaba Increases Investment in Ding Ding Map

BiaNews, 4/23/13

An industry source revealed on April 23 that Chinese e-commerce conglomerate Alibaba Group has increased its stake in Ding Ding Map. Alibaba is now the second-largest shareholder in the local listings search engine after F&H Fund Management. No further information on Alibaba's investment or precise share of Ding Ding Map is currently available.

Ding Ding Map received first-round funding from Morningside Ventures in 2005 and second-round funding from Morningside Ventures and KTB Ventures in 2008, both for undisclosed amounts, as well as USD 9 mln in third-round funding in 2010 from Morningside Ventures and HTC (2498.TW), USD 40 mln in fourth-round funding from F&H and the CID Group in April 2012, and an undisclosed amount in fifth-round funding from Alibaba in October 2012.

Editor's Note: For more background on this topic, please see "Ding Ding Map Obtains New Funding From Alibaba, Citi Bank" MD 11/01/12 issue.

Keywords: LBS KTB Ventures Internet funding investment Ding Ding Map Morningside Alibaba Group CID Group F&H Fund Management dingding.com

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