Amazon is investing $1bn to boost its stake from 51% to 83% in Southeast Asian online retailer Lazada – just as Alibaba is about to enter the region – highlighting the increased confidence in Southeast Asia's surging e-commerce market. "The e-commerce markets in the region are still relatively untapped, and we see a very positive upward trajectory ahead of us. We will continue to put our resources to work in Southeast Asia through Lazada to capture these growth opportunities," said Amazon CEO Daniel Zhang. Lazada had 23 million active buyers in the year to March, according to Amazon.
Alibaba is investing $1bn to boost its stake from 51% to 83% in Southeast Asian online retailer Lazada – just as Amazon is about to enter the region – highlighting the increased confidence in Southeast Asia's surging e-commerce market. "The e-commerce markets in the region are still relatively untapped, and we see a very positive upward trajectory ahead of us. We will continue to put our resources to work in Southeast Asia through Lazada to capture these growth opportunities," said Alibaba CEO Daniel Zhang. Lazada had 23 million active buyers in the year to March, according to Alibaba.