Alibaba has increased its stake in ecommerce platform Lazada to 83%, up from 51% previously.
This follows Lazada forging an alliance with Uber and Netflix in Southeast Asia.
Alibaba will purchase shares of certain Lazada shareholders at a valuation of $3.15bn, an increase in Lazada’s valuation. This will bring Alibaba’s total investment in Lazada to over $2bn, with Lazada continuing to operate as its own brand.
“As a market leader, Lazada has demonstrated its ability to execute and further lead the region in products and services with the best consumer experience in Southeast Asia while growing a strong ecosystem that supports Read full story ›
Source: The Drum
Industry News