<p>Alibaba's executive chairman, Jack Ma, has made the latest big investment in the messaging space; Photo via AP</p><p>China's Alibaba is the latest Internet giant to make a bet on the messaging space, and it's a big one. The company is spending $215 million for a minority stake in the messaging and free-calling app Tango, the startup revealed today.</p><p>The investment is part of a $280 million funding round that Alibaba is leading, which also will see other current investors in Tango stump up more capital.</p><p>The round values Tango at $1.1 billion, based on a regulatory filing sourced by research firm VC Experts, who estimate that Alibaba's stake lies somewhere between 20 and 25%. Two people close to the deal confirmed the estimate.</p><p><a href="http://www.forbes.com/sites/parmyolson/2014/03/20/exclusive-alibaba-sinks-250-million-into-messaging-app-tango-valuing-it-at-more-than-1-billion/">Keep reading...</a></p><p>Read also:</p><p><a href="http://bits.blogs.nytimes.com/2014/03/20/tango-messaging-app-dances-with-alibaba/">Tango Messaging App Dances With Alibaba</a> (New York Times (blog))</p><p><a href="http://www.reuters.com/article/2014/03/20/us-tango-alibaba-group-investment-idUSBREA2J05B20140320">Alibaba invests $ 280 million in messaging app Tango</a> (Reuters)</p><p><a href="http://news.cnet.com/8301-1023_3-57620608-93/alibaba-leads-$ 280m-investment-in-messaging-service-tango/">Alibaba leads $ 280M investment in messaging service Tango</a> (CNET)</p><p>Explore: <a href="http://news.google.com/news/more?ncl=dNgQOE5U089JecMxkexZfwOTrLFHM&authuser=0&ned=us">173 additional articles.</a></p>