Acquired by Alibaba
China-based Alibaba Group is to acquire personal cloud storage company Kanbox. The terms of the deal have not been disclosed. Operating much like Dropbox, Kanox raised USD20 in 2011 and counts more than 15m users 20% of which use the service from a mobile device. The purchase marks Alibaba’s entry into the personal storage space.
“Personal cloud storage will be a fundamental service for mobile users in the future and will serve as an important touch-point to reach a wider user population,” said Florence Shih, an Alibaba Group spokeswoman, in a statement. “We believe this type of service is synergistic with our existing suite of mobile applications and ecosystem.”
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
