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Ecommerce

Alibaba to invest an extra USD 1 bln in Lazada

Thursday 29 June 2017 | 12:25 PM CET

Alibaba has decided to invest another USD 1 billion in Lazada, a South East Asia ecommerce platform.

The new investment raises Alibaba’s total funding in the ecommerce platform to USD 2 billion, upping its stake to 90% from 51% in 2016. The company has bought all the Lazada shares from other investors, with the exception of Temasek Holdings.

By acquiring a majority of Lazada’s shares, Chinese ecommerce platform Alibaba strengthens its presence in markets like Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Lazada has an active user base of around 23 million and the company has invested itself in the region by acquiring online grocer RedMar. Furthermore, it has partnered with LiveUp to create a rewards and promotions platform for brands like Netflix, Uber, UberEATS, RedMart and Taobao Collection.

More: Link
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