Alibaba Group injected additional more than $845 million into its Southeast Asian e-commerce platform Lazada, according to documents from the Accounting and Corporate Regulatory Authority (ACRA) of Singapore, which is expected to be used to strengthen support for the platform’s local merchants to cope with fierce competition in the local market.
Alibaba has invested nearly $6 billion in Lazada since it took a controlling stake in the company in 2016.
The group had announced organizational changes at the end of March, establishing six business groups, of which Lazada, AliExpress and B2B platform are categorized as businesses under the International Digital Commerce Group.
Lazada is the second largest e-commerce platform in Southeast Asia in terms of Gross Merchandise Volume (GMV) in 2022, with a GMV of $20.1 billion, second only to Shopee, which has a GMV of $47.9 billion, according to market information.