Alibaba announced today, March 19 that they are to invest $2 billion into Lazada Group, the German eCommerce enterprise. Lazada, founded by Rocket Internet, operates in the Southeast Asian region and will benefit in being active in its market competition.
This is going to be the second Alibaba investment into Lazada, the previous is coming up during June last year and amounting to $1 billion. The first investment had Alibaba owning 83% stake in Lazada. It is this far undisclosed on the hold concerning the new investment.
The announcement as well includes declaring Lucy Peng as the new CEO of Lazada, who was previously the CEO of Ant Financial (Alibaba’s digital finance division).
Alibaba has become well known by now in terms of investing in other companies and helping them grow. Another recent investment of the company is into Tokopedia that’s a popular eCommerce site operating in Indonesia.
Stay with us for the next update on Alibaba and the global eCommerce industry.