Lazada, Rocket Internet’s Amazon clone which is active in Southeast Asia, announced yesterday that it has received an investment from German retail group Tengelmann, a regular Rocket Internet investor. According to TechCrunch, the funding amount is close to USD 20M.
The e-commerce company has been raising money at a furious clip. In September last year, it received an estimated USD 50M to USD 100M from investment bank JP Morgan. This was followed by USD 40M from Swedish investment firm Kinnevik and another USD 26M from Summit Partners. Read more
After raising USD40M from Kinnevik and tens of millions from JP Morgan, Lazada has done it again, announcing yesterday a USD26M investment from Summit Partners. The funds will be used for developing growth initiatives and expanding its product offering.
Lazada, which is Rocket Internet’s version of Amazon, claims to be the largest online department store in Southeast Asia. It operates in Indonesia, Malaysia, Philippines, Thailand and Vietnam.
“We seek to invest in companies that build long-term value, and Lazada has shown dynamic growth in a short period of time,” said Scott Collins, a managing director and head of Summit Partners London.
On 21 November, Lazada launched a new fashion marketplace platform in Malaysia that caters to offline retailers that want online distribution and marketing services but desire control over logistics and operations. It plans to rollout this platform in all its markets and expand the number of retailers on it. Read more
Following a high-profile investment by JP Morgan earlier this year, the Samwer Brother’s Amazon clone Lazada has secured another substantial round of funding, reported TechCrunch. This time, the investor is Kinnevik, a Swedish investment firm which owns a 25 percent stake in Rocket Internet. This latest round is worth USD40M.
Lazada is shaping up to be a leading player in Southeast Asia’s e-commerce scene. Launched in March 2012, Lazada now operates in Vietnam, Malaysia, Thailand, Indonesia and the Philippines. It currently sells items in the books, consumer electronics, household goods, toys and sports equipment categories.
What’s unclear at this point is how well the company is doing in each of these countries, since Rocket Internet is predictably tight-lipped about it.
Regardless, Lazada has a huge war chest to play with. Combined with the JP Morgan investment – said to be worth between USD50M and USD100M — the company’s total funds received overshadows any amount that e-commerce startups in Southeast Asia can muster. Read more
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
Many months back, I tweeted about the entrance of Rocket Internet in Southeast Asia with the comment, “Winter is coming.” Not long after, they have gotten off the ground running with an aggressive hiring spree and clones in the e-commerce space.
Rocket Internet is a company that belongs to the Samwer Brothers. They are known for their amazing execution prowess and their ruthlessness in cloning successful US Internet companies. Of course, their tactics and methods have raised the ire of many, including pro-Silicon Valley reporters such as Sarah Lacy who mounted a campaign against them.
But is the company’s impact on the Southeast Asia digital market all bad? I’ll examine this issue in detail and argue that while it may have some impact on innovation, it isn’t bad for the industry as a whole. Read more
Rocket Internet is continuing its rapid-fire expansion into Southeast Asia. It has launched — that’s right — an Amazon.com clone called Lazada, in Indonesia, Thailand and the Philippines. It will open in Malaysia soon.
Besides books, the e-store is selling home appliances, mobile devices, computers, video games, and more. Read more