Alibaba acquires Lazada

Alibaba

Chinese ecommerce group Alibaba has announced a $1 billion deal to take a controlling stake in its Southeast Asian counterpart Lazada, as it looks to expand beyond China’s increasingly saturated market. As well as taking roughly $500 million in new shares, the Chinese group is replacing big-name European investors as Rocket Internet, the Berlin-based start-up incubator, and Tesco, the UK supermarket chain… The relatively untapped Southeast Asia market is attractive to Alibaba as the Chinese ecommerce sector appears saturated… Founded by Rocket in 2012, Lazada operates in six markets across Southeast Asia, including Indonesia and Singapore, and is widely considered a leading ecommerce group selling products from clothing to consumer electronics.

 

Charles Clover and Avantika Chilkoti

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