
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.”
Related reading
Report: DLT, SWIFT gpi, Ripple and cryptos shape payments
The greatest impact of blockchain on payments is the acceleration of SWIFT gpi, according to Ed Adshead-Grant, general manager of payments, at ... read more
People moves: Token, Mid-Southern Bancorp, Ethereum and more
Token appoints new CTO San Francisco-based open banking platform provider Token appointed Gaurav Kohli as chief technology officer on January 29. As ... read more
Banks’ consumer engagement undergoing “fundamental shift”
The way that consumers are interacting with their banks is undergoing “a fundamental shift” towards digital, but the industry shouldn’t be too ... read more
Instant payments in a flash | podcast
Instant Payments are one of the latest developments in payments.