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Alibaba wants to cement its global footprint. | Image courtesy: @lazadaph

Lazada Group raises $1 billion equity investment from Alibaba

Lazada Group, Southeast Asia’s largest e-commerce site, has raised $1 billion in equity funding. The transaction will increase Alibaba’s total investment in Lazada to over $2 billion. The investment came from Alibaba Group, which will increase its 51 percent stake in the company to 83 percent. Alibaba will purchase shares from certain Lazada shareholders at …

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