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China's Alibaba sets up fund to back mobile OS

Michael Kan | Oct. 25, 2011
Chinese e-commerce giant Alibaba Group is readying the next update of its mobile operating system as a company subsidiary launched a new fund to support app development for the OS.

Tianyu did not immediately return a request for comment.

In addition to Alibaba's new 1 billion yuan fund, the company has also launched on Monday a 1 million yuan competition to encourage developers to build the best cloud apps for the Aliyun OS. The competition runs until the end of the year.

 

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