Alibaba acquires controlling stake in Lazada after $1b investmentStaff writer ▼ |
Acquisition South-east Asian e-commerce platform sold
China tech giant Alibaba Group has entered into an agreement to acquire a controlling stake in South-east Asian e-commerce platform Lazada, Channel NewsAsia reports.
Headquartered in Singapore, Lazada was founded by and is currently controlled by Germany’s Rocket Internet SE, Channel NewsAsia reports.
Lazada currently operates e-commerce platforms in Indonesia, Singapore, Malaysia, the Philippines, Thailand and Vietnam. The transaction is expected to help brands and distributors on Alibaba's platform to access the South-east Asian market.
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