sina science and technology news Beijing time on April 12th afternoon news, Alibaba group and Lazada Group today announced an agreement to acquire the controlling stake in Alibaba Lazada. Lazada is the leading provider of electronic business platform in Southeast asia.
in this transaction, Alibaba will purchase $500 million of new shares issued by Lazada, and the acquisition of shares held by some of the company’s shareholders, the total investment of about $1 billion. The deal will help global brands and distributors on the Alibaba platform and local businesses, covering the consumer market in Southeast asia.
Lazada is currently operating in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam business platform. According to Internet Live Stats data, the total population of the 6 countries is about 560 million, the number of Internet users is about 200 million. Currently, only 3% of total retail sales in Southeast Asia from online channels, so with the popularity of the Internet, Alibaba and Lazada will be a huge growth opportunity.
Michael, President of
Alibaba, · (Michael Evans), said: globalization is the current key development strategy of Alibaba group (). With the investment in Lazada, one of the most promising areas in the global electrical business, Alibaba will get in China outside a has a large number of users of the platform, a proven management team, and the future development of the stable foundation. The investment is in line with our strategy to connect brands, distributors and consumers around the world to support our ecosystem expansion in Southeast Asia and to better serve our customers."
Lazada CEO Marx · (Max Bittner); Bittner said: "we are very pleased to cooperate with Alibaba. We see a tremendous effort that will benefit our users in Southeast asia. Southeast Asia is an attractive, mobile end driven consumer market, fragmentation is very serious, barriers to entry of the market is very high, the modern retail industry is still in the early stages of development, there is a huge room for growth. The deal will help us accelerate the goal of providing a wide range of unique products to 560 million users in the region. In addition, Alibaba’s technical expertise will help us quickly optimize the service, to provide a more convenient shopping and marketing experience."
as part of the deal with, some shareholders of Alibaba and Lazada reached a put / subscription agreement. Between 12 and 18 months after the completion of the transaction, the Alibaba has the right to acquire the right to sell the remaining Lazada shares on the basis of fair market value.
Lazada was founded in 2012, in 6 Southeast Asian countries for local and international brands and distributors to provide one-stop one-stop shop for consumers. Lazada integrates local adaptation