Alibaba Announce Plan To Put $316 Million Behind Taiwanese Startups


The giant Chinese e-commerce company, Alibaba has announced on Monday the plan to spreading its wealth with a whooping $316 million fund for Taiwanese startups, the plan is comprises 10 billion New Taiwan Dollars, according to The Wall Street Journal.The company began its business in Taiwan in 2008 as a Singapore registered company. Taiwan didn’t allow Chinese companies or subsidiaries of Chinese firms to enter the island until 2009.

If you recalled, Alibaba went public last September, raising $21.8 billion in the largest U.S. IPO ever. The company’s current market cap is $211 billion, which is larger than Amazon’s, though smaller than Walmart’s.