Alibaba Invests USD1 Billion To Control Southeast Asia E-commerce Leader

ChinaChina Tech News — Alibaba Group announced that they will invest USD1 billion to subscribe a controlling stake in Lazada, including about USD500 million to subscribe new shares and the remaining to purchase from certain shareholders. Michael Evans, president of Alibaba Group, said that the investment in Lazada will allow Alibaba to enter an e-commerce platform with a large and growing consumer group outside China.

Alibaba Invests USD1 Billion To Control Southeast Asia E-commerce Leader

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