Men walk past the corporate logo at the headquarters compound of Alibaba Group in Hangzhou in eastern China's Zhejiang province.(AP/File)
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Alibaba Group Holding Ltd may be making its debut on Wall Street later this summer, but it's certainly no stranger to the investors of Silicon Valley.For instance, Alibaba made a $202 million investment for a 39 percent stake in 2-day shipping service Shoprunner, in October.Mitch Lasky, a partner at Benchmark Capital who has co-invested with Chinese giant Tencent Holdings and has held conversations with Alibaba, noted that Chinese companies often take 10 to 30 percent stakes in other firms, even marginally competitive ones, to build a "network of alliances".Alibaba has closely guarded its ambitions for the United States and executives have privately played down suggestions it would take Amazon head-on.Kagan accepted funding within 30 days of first meeting Alibaba representatives.Jerry Yang, the Yahoo co-founder who negotiated Yahoo's investment in Alibaba in 2005, introduced Tango to Alibaba executives last year, a source close to Tango said.Alibaba was introduced to Quixey through GGV Capital, a venture capital firm with a longstanding Chinese practice that invested in Alibaba in 2003, Kagan said.Quixey's Kagan believed Alibaba would give him the latitude to grow independently for years. But he pointed to UCWeb, a Chinese mobile search company in which Alibaba invested in 2009 .
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