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Alibaba Completes Its Biggest Overseas Acquisition To Date
Just this week, Chinese internet giant Alibaba announced plans to snag a majority stake in e-commerce startup Lazada Group for $1B, Alibaba's biggest overseas acquisition to date.
The Lazada buyout comes four months after Alibaba agreed to pay $226M for Hong Kong newspaper South China Morning Post, part of Alibaba’s larger push into media and e-commerce.
The deal allows Alibaba to enter a new market, without the heavy upfront logistics costs, Forrester analyst Satish Meena tells the Wall Street Journal.
“[This deal] will allow Alibaba to focus on bringing [in] more merchants, while using the existing brand name of Lazada to grow further,” he says. [WSJ]
