Lazada now has $236M to dominate Southeast Asia eCommerce space
Lazada, Rocket Internet’s attempt at whipping Amazon in Southeast Asia, raised $100 million in four months towards the end of last year. But today Lazada has achieved the same feat in a single day. Lazada’s $100 million round – this is the fifth official major injection of capital – comes courtesy of existing investors Holtzbrinck Ventures, Kinnevik, Summit Partners, and Tengelmann Group.
Lazada – which operates in Indonesia, Malaysia, Philippines, Vietnam, and Thailand – now has at least $236 million from all those investments.
The site’s CEO, Maximillian Bittner, told TheNextWeb this morning that he sees e-commerce in Southeast Asia as a “high single-digit billion US dollar opportunity” in the next five years, and now’s the time to seize the momentum.
Read the full post here: http://www.techinasia.com/lazada-raises-100-million-dollars-june-2013/