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Tag Archives: Alibaba

Alibaba’s Lazada hires Ant Group veteran to head up payments

(BLOOMBERG) -- Alibaba Group Holding Ltd.’s Lazada Group is creating a new role to lead payments in Southeast Asia for the first time, and tapped a former Alipay executive for the position, according to people familiar with the matter.

Dayong Zhang, former general manager of Southeast Asia for Ant Group Co.’s Alipay, will become Lazada’s head of payments, underscoring the e-commerce company’s strategic move to generate growth from the business, according to the people, who asked not to be named.

Lazada is seeking to take on Southeast Asian internet rivals such as Grab Holdings Inc and Sea Ltd, which have been aggressively pushing their payment products. The region’s payments market is expanding rapidly on the back of rising demand for online shopp

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Alibaba injects US$1 billion to increase stake in Lazada

Thursday, 29 June 2017   KUALA LUMPUR: Alibaba Group Holding Limited will invest approximately US$1 billion to increase its stake to approximately 83% in Lazada Group, the leading e-commerce platform in Southeast Asia. In a statement today, Alibaba said the transaction demonstrated the continued success of Lazada’s business and Alibaba’s …

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