Alibaba snaps up US$1b stake in Singapore-based Lazada

It is now Lazada’s controlling shareholder.

E-commerce giant Alibaba will acquire a controlling stake in Singapore-based e-commerce platform Lazada for a total of US$1 billion.

The investment consists of approximately USD500 million in newly issued equity capital of Lazada and acquisition of shares from certain shareholders of Lazada.

The transaction is expected to help brands and distributors around the world that already do business on Alibaba’s platform, as well as local merchants, to access the Southeast Asian consumer market.

Lazada currently operates eCommerce platforms in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

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