Alibaba has reshuffled the leadership at Lazada, its e-commerce firm in Southeast Asia, after CEO Lucy Peng — an original Alibaba co-founder — stepped down to be replaced by Lazada executive president Pierre Poignant after just nine months in the role. Alibaba owns more than 90 percent of Lazada but it has been involved in the business […]
View More Lazada, Alibaba’s Southeast Asia e-commerce business, gets a new CEOCategory: lucy peng
Alibaba beats forecasts with 61% growth and predicts more of the same for the next year
Alibaba is forecasting yet more growth for its business after it beat analyst forecasts with its fourth-quarter results. Revenue came in at 61.9 billion RMB ($9.9 billion), an increase of 61 percent year-over-year, which topped a 59.6 billion RMB prediction from analysts polled by S&P Global Market Intelligence. The company’s net income for the quarter did […]
View More Alibaba beats forecasts with 61% growth and predicts more of the same for the next yearAlibaba doubles down on Lazada with fresh $2B investment and new CEO
Alibaba is increasing its control of Lazada, its e-commerce marketplace in Southeast Asia it acquired control of in 2016, after it injected another $2 billion into the business and replaced its CEO with a long-standing Alibaba executive. Alibaba’s first investment came in April 2016 when it bought 51 percent of Lazada for $1 billion, and […]
View More Alibaba doubles down on Lazada with fresh $2B investment and new CEO