Bloomberg Tech – Alibaba to Invest $1 Billion in Lazada to Speed Asian Drive

The rapid adoption of digital platforms continues unabated in Southeast Asia, where Alibaba has made several significant bets on startups.

June 28, 2017

‘Alibaba Group Holding Ltd. will invest another $1 billion to raise its stake in online mall Lazada Group SA to 83 percent, securing control of a fast-growing startup at the vanguard of its Southeast Asian expansion.

The Chinese e-commerce leader is buying out most other backers in a deal that values the Singapore-based startup at $3.15 billion, Lazada CEO Maximilian Bittner said, with management and Temasek Holdings Pte. remaining as the only other investors.’

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