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Rumor: Alibaba to Invest USD 50 Mln in Xunlei

TechWeb, 8/13/10

Alibaba Group reportedly plans to invest USD 50 mln in Chinese online entertainment and download accelerator provider Xunlei. The two companies have already reached a preliminary agreement, according to an industry source. The source declined to reveal additional details except to describe the deal as Xunlei's final round of funding before its IPO.

A Xunlei spokesperson was unable to confirm the rumor with senior management.

Editor's Note: A spokesperson for Alibaba denied the rumor.

Keywords: Internet IPO funding Xunlei Alibaba

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