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May 10, 2013 08:20 am GMT
Alibaba Group is reportedly now the largest single shareholder in AutoNavi, a Beijing-based maker of electronic navigation tools and location-based services. The Chinese Internet giant has formed a strategic alliance with AutoNavi, on the back of a $294 million investment, which gives it a 28% stake in the navigation company, which is China's largest, providing mapping data for iOS, Google Maps and Baidu, among others.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/It_CdV8XCA8/
Confirmed: Alibaba Group Takes $294M, 28% Stake In China's NavigationLocation Services Specialist AutoNavi, As It Gets Down To Business On Mobile
Alibaba Group is Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/It_CdV8XCA8/
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