Alibaba injected another US $845 million into his Southeast Asian e-commerce platform Lazada.
Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com July 19 news, Alibaba continued to increase investment in the Southeast Asian e-commerce market, once again injected 845 million US dollars into his platform Lazada, this is since Ali announced organizational change in March this year, the establishment of Ali International Digital Business Group, Lazada once again received Ali capital injection.
According to documents released by Singapore's Accounting and Enterprise Regulatory Board (ACRA), Southeast Asian e-commerce platform Lazada received a capital injection of $845 million (CTOnews.com Note: currently about 6.067 billion yuan) from Alibaba on July 19. It is understood that after this capital injection, Lazada will continue to increase support for local businessmen in Southeast Asia and further enhance the consumer experience.
Lazada was founded in Singapore in 2012 and was acquired by Alibaba in 2016. It is an important part of Alibaba's e-commerce globalization strategy. Since the acquisition, Alibaba has given blood transfusions to Lazada several times, injecting US $1 billion in 2017 and US $2 billion in 2018. In 2022, after Jiang Fan, former president of Taobao Tmall, took over Alibaba's overseas digital business sector, he increased his investment in Lazada, with an annual capital injection of more than US $1.6 billion. In April this year, Lazada received a $352.9 million capital injection from Alibaba. So far, Ali's total investment in Lazada has reached about 5.8 billion US dollars.
In March this year, Ali announced the launch of organizational reform, setting up six major business groups and a number of business companies, of which Jiang Fan is the CEO of the International Digital Commerce Group, responsible for overseas e-commerce, cross-border e-commerce, international payment, international cloud computing and other businesses. In May, Ali approved the international digital commerce group to start foreign financing, and clarified the IPO plan of its business group.
According to Ali's latest results in the fourth quarter of fiscal 2023, the overall volume of international business orders rose, with a loss of 2.33 billion yuan in the current quarter, down from 2.563 billion yuan in the same period last year. In Southeast Asia, Lazada achieves double-digit year-on-year growth in double-digit orders by optimizing the buyer experience, further strengthens the buyer base, and continues to improve the liquidity rate by providing value-added services.
Southeast Asia is a region with great potential for e-commerce market. According to eMarketer, e-commerce sales in the region will grow by 20.6% in 2022, totaling $89.67 billion, and break the $100 billion mark in 2023. In this market, however, Lazada faces competition from Shopee, local e-commerce and cross-border sellers.
