Alibaba Group Holding Ltd. injected $845 million into Lazada, its online retail business in Southeast Asia that’s facing intensifying competition from rivals such as Sea Ltd. and Amazon.com Inc.
The capital infusion, disclosed in a regulatory filing in Singapore on Wednesday, brings the total that Alibaba has invested in the arm to several billion dollars since it gained control over the business in 2016. Alibaba and Lazada representatives didn’t respond to requests for comment.
Lazada is part of the international online shopping unit that Alibaba is planning to potentially take public in the US. The Chinese tech behemoth is splitting into six parts to spur growth of its various businesses, which include e-commerce, logistics and the cloud.
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