Alibaba invests 1bn dollars to acquire remaining stake in Lazada

Alibaba is all set to acquire Kinnevik and Rocket Internet’s remaining stake in online Southeast Asian platform Lazada for around 1 billion dollars. While Kinnevik’s stake in Lazada stands at 3.6 percent, Rocket Internet holds 8.8 percent stake in the company. In April 2016, Alibaba acquired slightly less than half of Kinnevik’s shares in Lazada for 57 million dollars and Rocket Internet's 9.1 percent stake for 137 million dollars.