You are here

Alibaba said to invest in Israeli search startup Twiggle

38517259.1 (38560982) - 31_05_2016 - ALIBABA-ACCOUNTS_.jpg
Alibaba Group Holding Ltd is investing in Israeli startup Twiggle to tap its search technology and solidify its lead in Chinese e-commerce, according to people familiar with the matter.

[BEIJING] Alibaba Group Holding Ltd is investing in Israeli startup Twiggle to tap its search technology and solidify its lead in Chinese e-commerce, according to people familiar with the matter.

The Tel Aviv-based company could help Alibaba improve the quality of online-shopping searches as the e-commerce operator expands in China and abroad, people familiar with matter said, declining to be named because the matter is private. The startup will get US$5 million to US$10 million from Alibaba, one of the people said.

Refining search technology has proven pivotal to shopping services like Amazon.com Inc Twiggle, led by former Google Inc executives Amir Konigsberg and Adi Avidor, uses machine learning and natural language processing to guess what shoppers are after. When users search for the "best laptop," Twiggle will try to understand what that means: such as highest screen resolution, most memory, longest battery life and so on.

Alibaba declined to comment in an e-mailed statement. Twiggle couldn't immediately provide comment.

sentifi.com

Market voices on:

The Chinese company has sustained a steady pace of investments as it builds on its e-commerce foundation while venturing into new areas such as artificial intelligence and Internet services. Alibaba and fellow Chinese Internet firms like Tencent Holdings Ltd and Baidu Inc are on the hunt for technology and content to drive longer-term growth.

BLOOMBERG

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom