Despite persistent rumors that Rocket Internet’s Zalora is struggling to gain firm footing in Asia, the fashion online retailer has announced today that JP Morgan Asset Management is investing in the company.
The investment, rumored to be in the “significant double digit millions”, covers Zalora’s presence in five Southeast Asian countries (Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam) as well as Hong Kong and Taiwan. The fresh injection of funds comes just 8 months after Zalora’s launch. Read more
Filed under Investments, News, TechnologyTags: E-Commerce, Hong Kong, jp morgan, Malaysia, Philippines, Rocket Internet, RocketInternet, Singapore, Southeast Asia, taiwan, Thailand, Vietnam, Zalora
JP Morgan Asset Management has confirmed in a press release that it has invested in Lazada, Rocket Internet’s Amazon clone that has about 1,000 employees and operates in 5 countries in Southeast Asia. Sources have told TheNextWeb that the investment is worth “upwards of USD 50M”, possibly even as high as USD100M.
Lazada claims that it is now the fastest growing online department store in the region. It launched in March 2012 to much fanfare in Indonesia, Thailand, and the Philippines. It later opened in Malaysia and Vietnam. Read more
Filed under Investments, News, WebTags: E-Commerce, Indonesia, jp morgan, lazada, Malaysia, Philippines, Rocket Internet, RocketInternet, Samwer Brothers, Southeast Asia, Thailand, Vietnam
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