Briefing: Alibaba-owned Lazada to bolster financial services offerings

E-retailer Lazada looks to boost financial services as it takes a page from the books of Alibaba - CNBC What happened: Alibaba-owned e-commerce company Lazada Group is looking to offer more financial services products to businesses in a bid to gain a competitive edge in Southeast Asia's online retail market, said Pierre Poignant, CEO of Lazada. "The next steps are financing, more rewards to…

Alibaba brings a Chinese twist to Lazada’s Southeast Asia expansion

A couple pass under a billboard for Alibaba-owned Southeast Asian e-commerce company Lazada in Ho Chi Minh City, Vietnam. (Image credit: TechNode/Cassidy McDonald) Lazada, the Alibaba-owned e-commerce platform in Southeast Asia, today announced that it is rolling out a package of products and services that would help brands and sellers tap the e-commerce boom in the region. The offerings,…

Briefing: Former Taobao exec named CEO of Lazada Malaysia

阿里投资的 Lazada 任命了新 CEO,原淘宝全球购总监周南上任 - Sohu What happened: Alibaba-backed e-commerce platform Lazada has named former Taobao executive Leo Chow as the new CEO of its Malaysian operations. Chow had been the regional executive vice president of Lazada Malaysia since 2018 before taking on the role of CEO in January. Before Lazada, Chow spent eight years at Alibaba’s cross-border retail platform…

Alibaba doubles down on Lazada with additional $2 billion

E-commerce giant Alibaba announced today that it will invest an additional $2 billion in Lazada Group to accelerate the growth plans of Southeast Asia’s largest e-commerce platform and deepen its integration into the Alibaba ecosystem. This accumulates Alibaba's total investment in Lazada to $4 billion. Alibaba acquired 51% stake in Lazada in April 2016 with an investment of $1 billion and…

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…

Alibaba Buys Into Southeast Asia With $1 Billion Lazada Purchase

On Tuesday, Alibaba Group Holding Limited announced that it acquired a controlling stake in Southeast Asian e-commerce platform, Lazada, for $1 billion USD. The acquisition includes $500 million USD in Lazada shares, as well as purchased shares from other Lazada stakeholders, including Rocket Internet, Tesco, and Kinnevik. Following the transaction, Lazada's valuation stands at $1.5 billion……

Samwer Brothers-backed Online Retailer Lazada Announces US$250 Million New Funding

Lazada, a Southeast Asian e-commerce startup incubated by Rocket Internet, raises approximately $250 million of cash from a consortium including new investors of Tesco, Access Industries, and existing ones of Investment AB Kinnevik and Verlinvest. The company announced a $100 million round this June. This marks the first investment by multichannel retailer Tesco into a pure online player in…

INSIGHTS | Alibaba isn’t Jack Ma

Alibaba booth at WAIC on Aug. 30, 2019 in Shanghai. (Image credit: TechNode/Shi Jiayi) On Tuesday, Jack Ma officially stepped away from his day-to-day role at the e-commerce giant he created in 1999. It surprised no one: Ma telegraphed the move as early as 2013, when he became chairman of Alibaba Group, giving the role of CEO to Daniel Zhang. Never one to shun the spotlight, his retirement…

JD.com, Thai retail giant Central Group launch financial services app in Thailand

China's second-largest online retailer JD.com along with Thai mall operator Central Group launched a new financial services app called "Dolfin" on Monday, Reuters reported, as China's internet giants ramp up expansion into foreign markets to offset slowing domestic growth. The app includes an e-wallet function, as well as digital lending, insurance, and wealth management features. Why it…

SEA tech startups cannot simply copy Chinese models

Petronas Twin Towers in Kuala Lumpur Malaysia (Image credit: Bigstock/ermakovep) Sitting in a trendy open-plan office in downtown Kuala Lumpur, Anson Wang oversees around 100 employees as CEO and co-founder of Jobstore, a Malaysian AI-powered recruitment platform. Coming from a rare breed of first-generation Chinese immigrant entrepreneurs into the country, it has been a long journey for Wang…