Alibaba doubles investment in Lazada
Shanghai : Chinese e-commerce giant Alibaba will appoint one of its founders as head of Lazada and inject another $2 billion into Southeast Asia’s leading online shopping firm, boosting its regional expansion. Alibaba, which already owns 83 percent of Lazada with two investments totalling $2 billion as of June last year, has been trying to acquire both online and offline assets to further bolster its business.
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