According to reports on the 24th, location based social networking company Momo was rumored to have been invested by Alibaba in the latest round B financing, along with Matrix, and DST. Speculations raise on Momo’s valuation could be as high as 200 million USD. 

Momo is a location based social networking platform for strangers. Since its founding in 2011, the application has accumulated 12 M users from Android and IOS users.