Alibaba's share will increase to an unnamed figure since the last investment.
Lazada founder Max Bittner, who has served as CEO since 2012, will take on the role of senior advisor to Alibaba. The company held a 83% stake in Lazada before the investment, which now stands at 4 billion United States dollars after the 2 billion USD injection over the past two years. The firm also invested $1.1 billion in Tokopedia which competes with Lazada in Indonesia, Southeast Asia's largest economy and the world's fourth most populous country.
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With today's news, Alibaba has invested $4 billion to date which it said will "accelerate the growth plans" and help further tie the Lazada business into Alibaba's core e-commerce service. Peng, one of the 18 founders and a senior partner in the Alibaba Group, said the region is a hot spot for growth and exciting opportunities.
Peng knows this too well, saying in a statement that due to the "young population, high mobile penetration and just 3 percent of the region's retail sales now conducted online", Alibaba is extremely confident in its decision to double down on the region.
"Lazada is well-positioned for the next phase of development and of Internet-enabled commerce in this region", she added. It also presented its "New Retail" strategic cooperation last month following a $486 million investment in big-data firm Beijing Shiji Information Technology Co. "I am excited about the future for Lazada and Lazadians and I look forward to continuing to contribute to the success of the business by helping Lucy and Alibaba's management", Bittner said.
Launched in 2012, Lazada boasts more than 145,000 local and worldwide sellers and 3,000 brands throughout Indonesia, Malaysia, Thailand, Vietnam and the Philippines.