Lazada Group has now announced that they have recently received an additional investment fund injection of $634 from Alibaba. These funds are expected to be used in continuing to compete with various other e-commerce companies in the region.
In Southeast Asia, the e-commerce arena shows competition between several parties, including Lazada, Shopee, and even TikTok Shop - in addition to local companies in a particular country. Lazada, which used to lead the arena, is now seen as only an alternative - while consumers spend more on platforms such as Shopee and TikTok Shop.
With this investment fund, Lazada is expected to continue its efforts in getting users and merchants on their platform, in addition to increasing promotions to expand their market share.
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BUSINESS & MONEY