Alibaba has invested $1bn to increase its share e-commerce marketplace Lazada to 83%, with Rocket Internet and Tesco among the exiting shareholders.
E-commerce group Alibaba agreed today to pay $1bn to increase its stake in Singapore-based e-commerce platform Lazada from 51% to 83%, allowing corporates Rocket Internet and Tesco to exit
Lazada is a diversified online marketplace that operates in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, selling stock from about 2,500 brands and more than 100,000 local and international merchants.
The deal values Lazada at $3.15bn and will provide exits for e-commerce holding company Rocket Internet, where Lazada was incubated,…
