A TV shopping firm scored Alibaba funding

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Hello readers,

Remember those infomercials that were always on daytime television in until the early 2000s?

Actually, they might still be a thing, but I haven’t watched cable TV in a while.

But what we might think of as a thing of the past scored funding from Alibaba this week. The tech titan injected US$939 million into Mango Excellent Media, a Chinese retail firm that uses multimedia channels such as online, catalogs, and (you guessed it) television as a sales platform, focusing on developing the country’s booming home TV shopping market.

But wait – there’s more! The almost billion-dollar investment that went into Mango Excellent Media makes up almost a third of the total disclosed funding across Asia this week.

Seems it will be a while until we hear about the internet killing the TV star.

You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.This is exclusively available to our subscriber community, which include folks from Ant Group, Grab, Tencent, Google, and more ☺️

Let’s dive into the biggest deals and M&As that recently took place.

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BIGGEST DEALS BY COUNTRY

🇨🇳 Mango Excellent Media: Multichannel retail firm Mango Excellent Media bagged US$939 million from Alibaba Group in a strategic investment round.

🇮🇩 Gojek: The Indonesia-headquartered ride-hailing decacorn raised a US$150 million strategic investment round from Telkomsel.

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