Chinese Internet giant Alibaba Group Holding Ltd. is investing in an Israeli technology company that aims to improve product searches on e-commerce websites, according The Wall Street Journal. Tel Aviv-based Twiggle announced Tuesday that Alibaba has joined its latest investment round, being led by South African conglomerate Naspers. The round will bring total funding for Twiggle to about $20 million, according to sources familiar with the deal. That both Alibaba and Naspers are involved is unusual, given Johannesburg-listed Naspers’ 34% stake in Tencent Holdings Ltd., which makes it the Alibaba rival’s largest shareholder. Attracting rival strategic investors is a sign of the interest in advancing e-commerce search.
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