Archive for July, 2017

Alibaba spending US$1bil to raise stake in South-East Asia’s Lazada

The move doubles Alibaba’s investment in Lazada after last year’s deal to buy a controlling stake in it for about US$1bil (RM4.29bil) and is a part of its efforts to boost its global sales. Reuters SINGAPORE: Chinese e-commerce company Alibaba Group Holding is investing an additional US$1bil (RM4.29bil) in South-East Asian online retailer Lazada Group, boosting its stake by nearly a third to 83% and amplifying its focus on the region.

Posted in ecommerce

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