Alibaba has announced that it will invest an additional US$2 billion into Southeast Asia-based ecommerce platform Lazada, upping its total investment to US$4 billion.
In line with this fresh funding, Lucy Peng - one of Alibaba's 18 co-founders and current chairman of Lazada - will assume the additional role of chief executive officer (CEO) of Lazada. The statement didn't specify how much of the company Alibaba will own after the latest investment.
Lazada founder Max Bittner, who has served as CEO since 2012, will take on the role of senior advisor to Alibaba.
The Chinese giant acquired control of Lazada in 2016 with an investment of US$1 billion before increasing its stake to 83% following an injection of another US$1 billion a year ago. Bittner will remain involved as "senior advisor to Alibaba Group" and apparently involved in future strategy, including further worldwide expansion opportunities.
"The investment highlights Alibaba's confidence in Lazada's future business success and Southeast Asian growth prospects, a region that is a key part of Alibaba's global growth strategy", said the Chinese technology giant in official statement.
Southeast Asia is a lucrative market for e-commerce players as millions of first-generation internet users embrace online shopping. She will be tasked with doubling down on Southeast Asia as the region has a young population and high mobile penetration rate, with just 3% of the region's sales now conducted online, the statement read.
In addition, its cloud business has invested heavily in building data center infrastructure in the region, facilitating the spread of its digital commerce and payments services. Alibaba's first investment helped save Lazada from the brink of bankruptcy, and the partnership between the two has been extremely beneficial for Lazada's growth in the last few years.
"Lazada is well-positioned for the next phase of development and of Internet-enabled commerce in this region", she added.
Launched in 2012, Lazada boasts more than 145,000 local and global sellers and 3,000 brands throughout Indonesia, Malaysia, Thailand, Vietnam and the Philippines.
A quiet month of worldwide football ensured there was minimal change in the global standings, with Africa's sides no different. In a similar development, Tunisia, Senegal, Congo D.R., and Morocco are unchanged on the continent's top four standing.
Disappointingly, though, following what would go down in history as the "Rabada Test", will be a couple of "Rabada-less" Tests. The third Test, to be held in Cape Town beginning Thursday March 22, looms as a pivotal match in the series.
The No. 5 Clemson Tigers could be on upset alert in the final game of the Round of 64 as 5-point favorites over the No. 12 Aggies. The victor advances to the regional semifinals in Boston, most likely to face either No. 4 Wichita State or No. 5 West Virginia.
Throughout her tenure in Congress, Slaughter was best known as one of the original authors of 1994's Violence Against Women Act . Redistricting in 2012 dramatically altered Slaughter's district, fueling speculation that she might retire.
The Jets identified Bridgewater and McCown as their Plan B option before they entered into talks with Cousins. The free agent quarterback is on the verge of a big payday at age 29, his first time on the open market.
Capitol Building after meeting with members of the Senate Judiciary Committee in Washington, U.S., June 21, 2017. Trump told reporters on Thursday that "it certainly looks like" Russian Federation was behind the attack.
Legendary Brazilian singer Elza Soares, who is black , tweeted that this was "one of the few times when I can't find my voice". For years, the Mare has been wracked by wars between narco-trafficking gangs and often heavy handed interventions by police.
The agreement must be approved by EU leaders meeting at the European Council summit on the 22nd and 23rd of this month. However, he described the agreements as a "decisive" moment for efforts to avoid Britain crashing out without a deal.
The broad Health Care Plans industry has an average P/S ratio of 16.24, which is significantly worse than the sector's 6.58. Tim Wentworth , president and CEO of Express Scripts , will be president and chief operating officer of Health Services.
Teammates nicknamed him "Strap" because of his ability to closely cover receivers and also "Scrap" for his scrappy style of play. Butler recorded 60 tackles (55 solo) with 12 pass deflections, 2 interceptions, 3 forced fumbles, and 1 sack last season.
It has always been our belief that the Pennsylvania Supreme Court acted in the best interest of the citizens of our commonwealth. The Supreme Court announced, "the application for stay presented to Justice Alito and by him referred to the Court is denied".
An additional wave of rule making will explore the role that premium cigars and flavors, including menthol, play in tobacco use. FDA Commissioner Scott Gottlieb said in a statement that cigarette smoking kills more than 480,000 Americans every single year.
That's a formula for an upset, especially when UNC-Greensboro sophomore forward James Dickey (10 points) got going late. Gonzaga shot nearly 59 percent from the field, 12 for 25 from 3-point range, and won 86-59.
The southern parts of the area will most likely see the most snow, with one to three inches expected south of the turnpike. An impending storm system will bring a mix of snow, rain and freezing rain to the area by Tuesday morning.
Hawking himself found recognition from the Catholic Church, being named a member of the Pontifical Academy of Sciences. In Hawking's case, he was diagnosed at the age of 21, when he was told he probably had about two years to live.
If you are attempting to sign up for Fornite Mobile , or sign in on PSN, XBox or mobile, you probably will not be successful. There are widespread reports across YouTube, Reddit and Epic Games' forums saying that an iPhone 6 will not work.
The practice, according to the White House's estimate , is costing US companies $30 billion a year in intellectual property loss. The United States Chamber of Commerce and 44 other associations are urging President Donald J.
The Cavaliers played at the slowest pace in all of college basketball this year, at just 59.4 possessions per 40 minutes. We can look around the inner sanctum of NCAA Tournament surprises and try to figure out where this should be placed.
Then, days later, the airline sent a German Shepard that was supposed to go to Kansas was sent to Japan. Prosecutors in Houston are investigating to determine if criminal charges are warranted, AP said.
BOTTOM LINE: Northeast Conference Tournament victor LIU-Brooklyn makes its first appearance in the tournament in five years. TruTV is in its eighth year of broadcast rights, having first aired tournament games for the 2011 Big Dance.
He then quickly turns and jumps into a golf cart, along with a staff member, to investigate the gunshots at the 1200 building. Nikolas Cruz was charged with 17 counts of first degree premeditated murder and 17 counts of first degree attempted murder.
Celebrities, students from Marjory Stoneman Douglas High School and other Twitter users voiced their support for the teenager. The majority of students took part, said Annette Powers, the school's director of communications and marketing.
Later, the duo headed to their Bandra residence, where Aamir cut two chocolate cakes and interacted with the media. Actor Aamir Khan is known to throw surprises. "I am here (in this world) because of my mother".
Houston Texans fans - it is not every day a talented young defender like Tyrann Mathieu gets released by giants former team. However, he has a history of character and injury concerns , and has also seen a decline in his on-field performance.
I actually watched a lot of this first leg and Besiktas didn't do badly to start with but then the game exploded on them. The post Bayern Ease Past Besiktas Into Champions League Quarter-Finals appeared first on Complete Sports Nigeria .