Alibaba invests extra US$2b in Lazada
ALIBABA Group said yesterday that it will invest an additional US$2 billion in the Southeast Asian online shopping platform Lazada Group to drive its integration into the Alibaba ecosystem as the e-commerce giant seeks to accelerate its growth plan in the Southeast Asia market.
Alibaba took a majority stake in Lazada in 2016 by investing US$1 billion and further raised its stake to 83 percent with another US$1 billion investment last year.
The investment is set to enable Lazada to tap into Alibaba’s resources, which can help it better serve consumers and empower merchants in Southeast Asia.
The investment underlines Alibaba’s commitment to provide a broad platform for local talent in Southeast Asia to contribute to the development of the digital economy in their home markets, according to the statement by Alibaba.
Lazada’s board of directors also approved a management transition where Lucy Peng, a co-founder of Alibaba Group and chairwoman of Alibaba’s financial affiliate Ant Financial will assume the additional role of chief executive officer of Lazada to drive further growth strategies.
“Lazada is well-positioned for the next phase of development of Internet-enabled commerce in this region, and we are excited about the incredible opportunities for supercharged growth,” Peng said in a statement.
Chinese Internet firms are expanding globally, hoping overseas nations, especially Southeast Asian countries where online shopping penetration is relatively low, would offer new growth potential in the coming years.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.