Alibaba Invests $50 Million in Peel to Take Remote-Control App Beyond TV

Alibaba Group Holding continues to expand beyond e-commerce, announcing it has plowed $50 million into a startup that turns smartphones and tablets into remote controls with an app. Based in Mountain View, Calif., Peel Technologies Inc. is one of a growing cluster of consumer startups that are expanding thanks to strategic backing from the Chinese Internet giant that executed the largest IPO in history last month.

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