Alibaba Group – The competition of Internet giants continues: With a billion investment in the online retailer Lazada Alibaba is expanding its supremacy in Southeast Asia.
Chinese Amazon rival Alibaba is fueling the competition with a billion-dollar investment in Southeast Asian online retailer Lazada. It would put an additional two billion dollars in the business, announced Alibaba on Monday.
The tech giant did not announce how much the stake in the online loss-making platform is currently increasing by 83 percent. Alibaba has now invested $ 4 billion in the company founded in 2012 by the German startup blacksmith Rocket Internet .
Alibaba has been focusing on expansion in Southeast Asia for some time to fend off Amazon and its competitor JD.com.