Tango was valued at USD 1 billion when Alibaba invested in the business last year. Now, however, the e-commerce app Tango shop has been closed down leading to 30 employees having to leave their jobs.
- The initiative didn’t really pan out. We didn’t see the conversations we wanted. There was a good amount of traffic but the volume didn’t materialize. We recently updated the app to take the e-commerce flow out, but unfortunately couldn’t keep the team working on that initiative, Tango CTO Eric Setton told TechCrunch.
Secret Number of Users
Apart from Tango shop, the business seem to be well in order. According to Eric Setton, Tango is looking at its highest quarter of revenue to date.
- This year, revenue is an order of magnitude above what we’ve ever seen before, he said, although he declined to provide a specific revenue figure.
Tech Crunch has been denied an update on Tango’s user base. In May, when Tango shop was launched, the company claimed 300 million registered users.