Lazada, founded by German-based internet incubator firm Rocket Internet, last year secured $250 million in funding from investors including British-based firm Tesco, Access Industries and Kinnevik. Lazada already claims to be Southeast Asia's largest online shopping mall. It's known for selling electronics, apparel, cosmetics, books, gadgets and many more to customers in Thailand, Indonesia, Vietnam, Philippines and other countries in Southeast Asia. It also offers frees shipping on many items, free returns (within 14 days ) and flexible payment options.
Rocket Internet said Temasek had joined existing investors including Kinnevik and Verlinvest in the funding round, which valued Lazada at 1 billion euros. Rocket Internet said it contributed 15.3 million euros, the move lowers Rocket internet's stake in Lazada to 23.8 percent from 26.7 percent.
Lazada said it would use the money to expand its operations and improve its logistics infrastructure, payment solutions and IT systems. This isn't the first big funding round that Lazada has raised, last year it picked up a $250 million investment led by Tesco.
Lazada is SouthEast Asia's number one online shopping site. Lazada offers a wide array of products and provides convenient online shopping experience with its nationwide shipping, warranties, 30-day returns policy, and easy payment options. Consumers can shop anytime and anywhere for books, electronics, phones & accessories, computers, home & living, hardware, home appliances, toys, kids & babies, travel and luggage, beauty, jewelry & watches, fashion, and sports.
Lazada is owned by Rocket Internet, the largest, fastest and most successful international online venture builder. Rocket Internet has been building online companies since 1999 and has created over 100 market- leading companies in over 40 countries. Headquartered in Berlin with 25 international offices in all 5 continents, Rocket Internet has more than 75 active portfolio companies.
Image Credit: Techdivamedia