Alibaba’s push into Hollywood is picking up steam. The enormous Chinese e-commerce company, which recently posted a world-record initial public offering in the United States, has invested $50 million in Peel, maker of a smart remote app for televisions.
The funding was actually given this spring, Re/code reported on Thursday, but Alibaba waited until after its mammoth September 2014 IPO to make the investment known. This isn’t the first round of Peel financing to come from Alibaba. In 2013, the group funded Peel to the tune of $5 million.
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The Peel Smart Remote app, which debuted in 2012, turns Android and iOS smartphones and tablets into remote controls that work on TVs, PCs and other smart devices.