Alibaba puts another $1 billion into Lazada

Alibaba Group is to invest almost another $1 billion in Southeast Asian e-commerce platform Lazada, bringing Lazada’s implied valuation up to $3.15 billion.

The two companies have released a joint statement to announce the the deal that will increase Alibaba Group’s stake from 51% to 83%.

Alibaba plowed $1 billion into Lazada in April 2016 to take a controlling share. The move was made up of $500 million in Lazada shares and purchased shares from other Lazada stakeholders, including Rocket Internet (the Frankfurt-listed incubator that invested in Lazada), Tesco, and Kinnevik. That made Lazada worth $1.5 billion at the time.

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