Alibaba’s Invests $845 Million In Lazada
The ecommerce giant’s total investment into the unit adds up to several billion dollars.
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Chinese ecommerce giant Alibaba Group Holding, has invested an additional $845 million into Lazada, its online retail unit in Southeast Asia, as it eyes overseas expansion.
With the latest amount, disclosed in a regulatory filing in Singapore, the ecommerce giant’s total investment into the unit adds up to several billion dollars. Lazada operates under Alibaba’s Global Digital Business Group, which also includes AliExpress, Trendyol and Daraz.
Under its new business structure, Alibaba’s global digital business group will be headed by group CEO Jiang Fan. Board members include Michael Evans, Eddie Wu Yongming, and Trudy Dai Shan.
