Alibaba's funding propels Lazada forward in Indonesian e-commerce market

Alibaba's funding propels Lazada forward in Indonesian e-commerce market

REUTERS/Darren Whiteside

Southeast Asia-focused marketplace Lazada is putting the money raised from its parent Alibaba to work.

Even as bigger peers Shopee, owned by Singapore-based Sea Ltd., and homegrown Tokopedia were penny-pinching to focus on profitability amid the funding winter, Lazada raised $1.6 billion from Alibaba in multiple tranches in 2022 to invest in logistics and payments.

Edited by: Pramod Mathew

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