Alibaba pumps $845m more into Lazada in battle with Shopee, TikTok
China e-commerce group faces rising Southeast Asia competition
Lazada has partnered with Alibaba in logistics and other areas. (Photo by Takashi Nakano)
SHANGHAI -- Alibaba has invested an additional $845.44 million into Southeast Asia e-commerce unit Lazada, the latest move by the Chinese group to bolster its position in the hotly contested region.
The fresh investment was made through Alibaba Group Holding's Singapore arm, according to a filing dated Wednesday by Lazada to Singaporean authorities.
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