Alibaba has doubled its investment in the Southeast Asian online marketplace, having accumulated an 83% stake as of June last year.
E-commerce firm Alibaba agreed today to invest $2bn in Singapore-based online marketplace Lazada, effectively doubling its investment in the company, in which it already holds an 83% share.
Lazada runs an e-commerce operation spanning Singapore, Indonesia, Malaysia, the Philippines, Thailand and Vietnam with more than 145,000 merchants registered selling items such as electronics, household goods, fashion, toys and appliances.
The company had raised a total of more than $730m from investors including e-commerce holding group Rocket Internet and retailers Tengelmann…
