In China, PlaceIQ Snags Alibaba as Customer and Investor

CHINA, October 21, 2016 - Chinese ecommerce giant Alibaba wants to use location data to improve how it sells products. It didn’t want to build the tech itself, so Alibaba hired PlaceIQ to make sense of its massive reams of customer data.

That’s not all. Alibaba also invested an undisclosed amount in the $25 million Series D round PlaceIQ closed in January.

“They do not do nonstrategic investments, and they find that deals are more successful when they come in and invest in the company” said PlaceIQ CEO Duncan McCall [pictured]. More…