Ably Corp., the parent company of South Korean e-commerce platform Ably, has successfully secured an investment of KRW 100 billion (approximately $71 million) from Alibaba. This investment, which grants Alibaba a 5% stake in the company, has propelled Ably Corp.'s valuation to KRW 3 trillion ($2.1 billion). As a result, Ably Corp. has achieved the status of South Korea's first unicorn startup, marking a significant milestone in the country's tech landscape. This strategic partnership with Alibaba is expected to enhance Ably's growth and innovation in the competitive e-commerce sector.
Original from TechNode.com: Alibaba invests $71 million in parent company of South Korean e-commerce platform Ably
Alibaba invests $71 million in parent company of South Korean e-commerce platform Ably
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