Lazada | Pixr8 News

Alibaba has appointed a new CEO at its e-commerce firm in Southeast Asia known as Lazada. Previous CEO Lucy Peng stepped down to be replaced by Lazada executive president Pierre Poignant after just nine months in the role. The company owns 90 percent of Lazada and has been involved in the business since April 2016 when it bought 51 percent of Lazada for $1 billion from Rocket Internet. Also, after the acquisition Alibaba invested a further $1 billion last year to increase its equity to around 83 percent and earlier this year it raised its stake even higher with an additional $2 billion injection. Lazada operates in six countries across Southeast Asia, but there are very few indicators of how the business is performing. Alibaba’s own financial rep...

Alibaba, China's leading e-commerce company will appoint one of its founders Lucy Peng as head of Lazada and also invested around $2 billion into Southeast Asia's leading online shopping firm. The appointment and funding will use to expand the operations in the south-east Asia region. Alibaba is the leading investor in the Lazada group, owns 83% shares. Earlier the e-commerce company was invested total $2 billion in two rounds of funding. As per the information, Alibaba with these investments trying to acquire both online and offline assets to further bolster its business. Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam are the leading market for the e-commerce company having 560 million consumers in the region. Lazada Group was founded in 2011 by German ...

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Alibaba Appoints new CEO for its Southeast Asia e-commerce Firm

Alibaba Invests $2 Billion in Lazada, Also Lead the Operation