Greek entrepreneur sells start-up company to Alibaba for 90 million euro

Screen Shot 2019 01 24 at 9.45.17 am

Screen Shot 2019 01 24 at 9.45.17 am

Greek entrepreneur Kostas Tzoumas, the founder of German-based start-up Artisans GmbH, sold his company to Chinese multinational conglomerate Alibaba earlier this month for approximately 90 million euro.

The start-up was founded in 2014 by the Greek graduate of Athens’ Metsovio Polytechnic University and is the first German-based start-up to be bought out entirely by a Chinese company.

Speaking to Reuters, Tzoumas said Alibaba planned to invest in his company to develop “Apache Flink”, its open-source software which is able to process large volumes of data and also planned to expand into new business areas.

Before founding data Artisans, Kostas was a postdoctoral researcher at TU Berlin, with Microsoft Research, and Aalborg University.