Alibaba Invests $50 Million In TV Remote App Maker Peel

Peel, the maker of an app that acts as a “smart remote” for TVs, said it secured an additional $50 million in funding from Chinese e-commerce giant Alibaba Group Holding Limited. The Peel Smart Remote app, launched in 2012, turns Android and iOS smartphones and tablets into remote controls that work on TVs, PCs, air-conditioners and other smart appliances. The California-based startup says it has more than 90 million users in 200 countries.