Alibaba acquired Shanghai-based Teamambition.

Chinese e-commerce giant Alibaba acquired Shanghai-based productivity tool Teamambition through its investment arm. Financial terms were not disclosed. Teambition consists of cloud-based project management tools, with functions similar to a mixture of Trello and Dropbox. Users can collaborate on projects and share or edit documents in real time across departments, locations, and business units. It has more than seven million users across 38 industries with clients including Huawei, Xiaomi, TCL, and Ximalaya. The move falls in line with Alibaba’s strategic shift to enterprise-facing services.