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Alibaba Will Invest Another $2 Billion in Online Mall Lazada

Alibaba Will Invest Another $2 Billion in Online Mall Lazada

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.

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These are preliminary results , however, and researchers are still working out what all has changed between the two brothers. The researchers also saw that spaceflight is linked with nutrient shifts, oxygen deprivation stress and more inflammation.

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.

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