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Company type : Subsidiary
Industry : E-commerce
Founded : March 27, 2012; 12 years ago
Founder : Maximilian Bittner[1]
Headquarters : 👇
Bras Basah, Singapore
Area served
Southeast Asia, except Laos, Cambodia, Brunei, Myanmar and East Timor
Key people :
Jiang Fan (Group Chairman)[2]
James Dong (Group CEO)
Lucy Peng (Executive Chairwoman)
Services
E-commerce
(Online shopping) Owner
Alibaba Group
Subsidiaries
Lazada Vietnam
Lazada Singapore Pte. Ltd
Website : www.lazada.com
Backed by Rocket Internet, Maximilian Bittner founded Lazada in 2012 as a marketplace platform that sells inventory to consumers from its own warehouses. Lazada modified its business model the following year to allow third-party retailers to sell their products on its platform too.[citation needed] The marketplace accounted for 65% of the company's sales in 2014.[6][needs update]
Lazada operates in Southeast Asia, except Myanmar, Laos, Cambodia, Brunei and East Timor. The company raised over $685 million from investors such as Tesco, Temasek, Summit Partners, JPMorgan Chase, and Kinnevik AB, before Alibaba Group acquired a controlling stake in April 2016 to support its international expansion plans.
Often, Lazada is compared to companies in Southeast Asia with a similar e-commerce platform, such as Shopee, Tokopedia, and Bukalapak.