Alibaba Group Acquires Office Collaboration Tool Teambition
Sina Finance, 3/28/19
Chinese internet giant Alibaba Group (NYSE: BABA) has, via its investment arm, wholly acquired the Shanghai-based developer of office collaboration tool Teambition, according to new data listed in Chinese enterprise intelligence platform Qichacha.com.
Teambition developer Huiyi Information Technology was established in April 2011 with RMB 7.05 mln in registered capital.
In November last year, rumors surfaced that Alibaba had acquired Huiyi, but at the time, Alibaba declined to comment.
Editor's Note: Teambition offers a collaboration platform and enterprise management functions, and supports live updates via its mobile app and website interfaces. Its collaboration platform allows enterprises to directly introduce data from public opinion monitoring, user feedback, and information collection to perform collaborative management. Its enterprise management functions enable managers to monitor employees' work progress in real time to uncover and address problems in a timely fashion. The platform can also generate periodic business reports for management, showing the status of the company's different ongoing projects.
Keywords: wireless enterprise software Internet Alibaba Group Teambition BABA Huiyi M&A collaboration app
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