After obtaining fresh funds of $ 353 million (around Rp. 5.2 trillion) last April, Lazada reportedly received additional funds of $ 845 million (around Rp. 12.6 trillion) from Alibaba.
According to Bloomberg, this information is contained in a report the company sent to regulators in Singapore on Wednesday (19/7). The funding will be used to strengthen Lazada's e-commerce business in Southeast Asia.
With this latest investment, Alibaba has injected billions of US dollars into Lazada. Since its founding in 2012, Lazada Group has raised hundreds of millions of US dollars from various investors, including some of the world's largest technology companies.
Lazada was acquired by Alibaba for $1 billion in 2016. In 2017, the company secured $1.1 billion in a round led by Alibaba and Temasek for a total of over $3 billion raised.
In 2022, Alibaba announced the spin-off of Lazada into a separate entity. This decision was driven by several key factors, including becoming more independent and focused. Alibaba is working to push Lazada for more autonomy and independence in pursuing a growth path in the Southeast Asian market.
Lazada's spin-off strategy has also allowed them to strengthen their business in Southeast Asia and consolidate their position as a major player in the global e-commerce landscape. This step is also considered capable of making Lazada to compete better with regional competitors.
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