Alibaba Invests Big in Israeli QR Code Startup

Chinese e-commerce giant Alibaba has added to its global list of investments by reportedly injecting capital into Israeli QR code developer Visualead. Though both companies haven’t commented on the amount, sources said to be close to Alibaba told The Wall Street Journal that the infusion was less than $10 million. Currently, the deal is for Visualead to use the funds to work on the next wave of QR technology, while Alibaba will use the patents and technology from the startup across its business holdings, especially e-commerce.