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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