Alibaba Pumps $630 Million More Into Lazada in Race for Southeast Asia

(Nikkei Asia) — China’s Alibaba Group Holding Ltd. has invested an additional $634 million in Singapore-based e-commerce subsidiary Lazada amid an intensifying battle with TikTok and others for the Southeast Asian market.

Lazada issued a placement of stock to Alibaba’s Singapore subsidiary on Thursday, according to a filing with local authorities.

Alibaba has repeatedly injected cash into the company since 2022, with this most recent investment — its third in 2023 — bringing this year's total to over $1.8 billion.