Alibaba invests USD 2 bln in Lazada

Monday 19 March 2018 10:21 CET | News

Alibaba has increased its control of Lazada, its ecommerce marketplace in South East Asia it acquired control of in 2016, investing USD 2 billion into the business.

In April 2016, Alibaba bought 51% of Lazada for USD 1 billion, and added another USD 1 billion in 2017 to increase its equity to 83%.

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

Alibaba has not limited its South East Asia approach to backing Lazada. The company also invested USD 1.1 billion in Tokopedia, in August 2017, Lazada’s competitor in Indonesia.

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Keywords: Lazada, Alibaba, ecommerce, South East Asia, marketplace
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce