NEW YORK (Reuters)—Alibaba Group Holding Ltd has invested $120 million in San Francisco-based mobile games studio Kabam, the latest in a string of U.S. investments intended to build up the Chinese online retailer's presence in the world's biggest Internet arena.
The investment raises the valuation of Kabam from $700 million to more than $1 billion. As part of the partnership, Kabam will take games from "The Hobbit: Kingdoms of the Middle-earth" to "Fast & Furious 6: The Game" to users of Alibaba's messaging app Laiwang and e-commerce service Taobao, the companies said. First up will be Kabam's "The Lord of the Rings" game.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"