23 Jan '13, 1am

Rocket Internet's Lazada gets USD20M from German retail group Tengelmann

Rocket Internet’s Lazada gets almost USD20M from German retail group Tengelmann January 23, 2013 by Terence LEE Lazada , Rocket Internet’s Amazon clone which is active in Southeast Asia, announced yesterday that it has received an investment from German retail group Tengelmann, a regular Rocket Internet investor. According to TechCrunch , the funding amount is close to USD 20M. The e-commerce company has been raising money at a furious clip. In September last year, it received an estimated USD 50M to USD 100M from investment bank JP Morgan. This was followed by USD 40M from Swedish investment firm Kinnevik and another USD 26M from Summit Partners . Assuming that an equity of 15-20% have been doled out to these investors in total, Lazada’s valuation could be worth more than USD 900M. The online destination currently operates in Malaysia, Indonesia, Vietnam, Philippines, and...

Full article: http://sgentrepreneurs.com/2013/01/23/rocket-internets-la...

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