Redmart

Lazada to focus on winning in existing markets, no deal talks for now

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Lazada Malaysia CEO Hans-Peter Ressel on growth opportunities.

An employee at online retailer Lazada walks into the company's office in Jakarta, Indonesia April 15, 2016.  REUTERS/Darren Whiteside  - RTX2A348
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A logo of Alibaba Group is pictured at its headquarters in Hangzhou, Zhejiang province, China, October 14, 2015. REUTERS/Stringer CHINA OUT
An employee at online retailer Lazada walks into the company's office in Jakarta, Indonesia April 15, 2016.  REUTERS/Darren Whiteside  - RTX2A348
Alibaba’s Lazada braces for a Southeast Asian brawl with Amazon

Alibaba Group Holding Ltd. and Amazon.com Inc. are about to clash in Southeast Asia. And Lazada Group SA, which Alibaba bought this year for $1 billion, will be right at the heart of that conflict. Southeast Asia’s largest e-commerce site is rolling out a series of initiatives in anticipation of the U.S…. Read more »

REUTERS/Rick Wilking/Files
Amazon to establish Singapore presence in Q1 2017

Amazon is ready to enlarge its presence in Asia through plans to set up a regional HQ in Singapore, following reports earlier this year that it planned to establish itself in the Indonesian market with a war chest estimated at $600 million.

An employee at online retailer Lazada walks into the company's office in Jakarta, Indonesia April 15, 2016.  REUTERS/Darren Whiteside  - RTX2A348
Visual of RedMart portal. January 2016.
Alibaba in talks to acquire Singapore’s Redmart for $30m-$40m

Redmart, that was founded in 2011, has raised $55 million in equity financing to date and was a first mover in the e-grocery space in Southeast Asia, but has faced financing issues over the last 12 months, having reportedly failed in its efforts to raise a $100 million funding round.

Eduardo Saverin. Photo: Reuters
Visual from Hopscotch.in blog