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Alibaba to invest $2B more in online retailer Lazada

Alibaba Group Holding Ltd. said March 19 that it will invest an additional US$2 billion in Lazada Group in an effort to facilitate the Southeast Asian online retailer's growth and further integrate it into the Alibaba ecosystem.

In addition, Lazada CEO Max Bittner will step down from the role he has held since 2012 and become a senior adviser to Alibaba. Bittner, who is also founder of the Singapore-based e-commerce company, will help with the transition as well as strategies for global growth.

Lazada chairman Lucy Peng, who is also one of Alibaba's 18 founders, will replace Bittner as CEO.

With the new capital injection, Alibaba will have invested a total of US$4 billion in Lazada, which has operations in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Lazada, meanwhile, will continue to leverage Alibaba's resources for its relationships with consumers and merchants in the region.

Alibaba spent US$1 billion to gain control of Lazada in 2016 and increased its holding to 83% from 51% with another US$1 billion investment in 2017.

The new investment highlights the key role that Southeast Asia is playing in Alibaba's strategy for international expansion, alongside regional logistics plans previously made by the Chinese e-commerce giant.