Online shopping startup Lazada picked up $250 million from several investment firms—with Singapore-based company Temasek leading things. Founding company Rocket Internet joined the round of funding.
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Lazada’s operations are based in Southeast Asia and the company works in a fashion similar to Amazon or Alibaba. As a matter of fact, it leans very close to the Amazon in some of the shopping features it offers such as free shipping and free returns after a certain amount of days. It deals in many of the same goods as well with books, clothing, and electronics being hot sellers anywhere on the globe.
The $250 million mark isn’t new to Lazada, it also hit $250 million in funding last year. There’s more than just interest being shown in Lazada’s success, there’s confidence in “The Number 1 Shopping Mall In Southeast Asia” to not only be the major player in the region, but to eventually expand beyond the region.
