Alibaba pours another $230 million into Lazada

2024-05-22 09:03:28

Asia Tech Wire (May 22) -- Chinese tech giant Alibaba has poured another $230 million into its Southeast Asian e-commerce platform Lazada, according to data provided by Alternatives.pe.

Thus, Alibaba has invested about $7.7 billion in Lazada since 2016, when it invested $1 billion in Lazada to gain a controlling stake.

This is also the first time Alibaba has injected capital into Lazada this year. In 2023, Alibaba invested more than $1.8 billion into the e-commerce platform.

lazada Alibaba

Email Subscription

Newsletters and emails are now available! Delivered on time, every weekday, to keep you up to date with North American business news.

Weekly Highlights

                                    Southwest Airlines CEO: Although Boeing still has a lot of work to do, they seem to be moving in a good direction and we are more optimistic.
                            2025-01-31

                                    White House Press Secretary Levitt: Details about the Nvidia meeting are still unclear.
                            2025-02-01

                                    Apple (AAPL.O) said the Apple Pay outage has been resolved.
                            2025-01-29

                                    Jefferies: Raised Meta Platforms (META.O) price target from $715 to $810.
                            2025-01-30

                                    Sam Altman, founder and CEO of OpenAI: OpenAI will develop specialized hardware for AI.
                            2025-02-03