Alibaba Reportedly Injects 5,2 Trillion Rupiah Funds into Lazada
Used to strengthen Lazada's position in the Southeast Asian e-commerce industry
Alibaba Group has again injected fresh funds into Lazada in the amount of $ 353 million or around 5,2 trillion Rupiah based on a VentureCap report. DailySocial.id have contacted Lazada Indonesia to confirm this news, but there has been no response.
Since its founding in 2012, Lazada Group has raised hundreds of millions of dollars in funding from various investors, including some of the biggest technology companies in the world. Lazada acquired Alibaba was valued at $1 billion in 2016. In 2017, the company secured $1,1 billion in a round of funding led by Alibaba and Temasek for a total of over $3 billion in funding raised.
Then, Lazada again pocketed fresh funds of $ 1 billion from Alibaba in 2018, bringing the Chinese company's total investment in Lazada to more than $ 4 billion. This funding will be used to support Lazada's growth and expansion across Southeast Asia, with a focus on building a logistics network and expanding its product offerings.
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