Kabam Lands $120M From Alibaba

San Francisco-based mobile game developer Kabam has raised $120M from Alibaba, in a deal that reportedly values the company at $1 billion. Kabam develops a wide range of mobile games. The company's backers include Warner Bros., MGM, Google Ventures, Pinnacle Ventures, Performance Equity, SK Telecom Ventures, Canaan Partners, Redpoint Ventures, and Intel Capital.