Alibaba Invests $50 Million in TV Remote Control App For Smartphones
Over the past few weeks, we’ve heard a lot of news about Alibaba, the Chinese tech giant that has been compared to Amazon and eBay. This week, the company announced that they invested $50 million into Peel, an entertainment app maker in Mountain View, California, earlier this spring. Â They waited to announce the investment until after their historic IPO, when it raised $21 billion.
The startup company makes apps for mobile devices that allows people to use them as remote controls for their televisions and Cable TV boxes.
The Android version of the app will work with nearly every TV manufacturer, Cable TV box and over-the-top box, like Roku and Amazon Fire TV. However, the iOS version for iPhones only works with Dish and DirecTV Satellite TV boxes.
Peel is an intriguing app, certainly, and they make money by charging TV networks to promote their shows on their app — advertising in a new way.
Peel has also discussed making a universal remote app that controls the air conditioning and the lights in smart homes.
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