The Wall Street Journal: Alibaba invests additional $1 billion in Lazada, raising its stake to 83%

Bloomberg News
Alibaba has raised its stake in Lazada to 83% from 51%

Alibaba Group Holding Ltd. is raising its bet on populous Southeast Asia, a region that is home to more than 600 million consumers.

The Chinese internet giant said Wednesday it is plowing an additional $1 billion into Southeast Asian e-commerce firm Lazada Group, raising its stake to 83% from 51%.

Alibaba BABA, +1.23% had paid $1 billion for a controlling stake in the internet shopping platform last year. Based in Singapore, Lazada operates in six markets including Indonesia and the Philippines.

Alibaba, the owner of China’s two most popular online retail sites, Taobao and Tmall, has made globalization a key focus of the firm’s expansion plans as competition at home intensifies.

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