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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Acquisitions»Rocket Internet intends to sell 8.8% of remaining stake in Lazada to Alibaba for $276million
    Lazada

    Rocket Internet intends to sell 8.8% of remaining stake in Lazada to Alibaba for $276million

    0
    By Staff Writer on June 28, 2017 Acquisitions, Ecommerce, Innovation, Marketplace

    Rocket Internet  has announced today it intends to sell its remaining 8.8% stake (fully-diluted) in Lazada Group S.A. to Alibaba Group Holding Limited for USD 276 million, equating to an implied USD 3.15 billion valuation of Lazada.

    The transaction is the result of the exercise of the put-call agreement entered into in conjunction with Rocket Internet’s sale of a 9.1% stake in Lazada to Alibaba in April 2016 for USD 137 million.

    Rocket Internet expects to realize an overall 20x money multiple on its invested capital of EUR 18 million.

    “Lazada has been a great success for us and is testament to our ability to support companies in Emerging Markets. Since the launch of the company in 2012 in Southeast Asia, Lazada has become the leading eCommerce player in the region” said Oliver Samwer, CEO Rocket Internet. “This is only the beginning for Lazada. We wish the management team continued success in outgrowing competition by innovating and addressing the complexities of the six distinct markets Lazada is operating in.”

    Operationally launched in March 2012, Lazada is Southeast Asia’s number one online shopping and selling destination, with presence in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. Lazada helps more than 100,000 local and international sellers as well as 2,500 brands serve the 560 million consumers in the region through its marketplace platform, supported by a wide range of tailored marketing, data, and service solutions.

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