12 Mar '13, 11am

Zalora gets USD 26M investment and double-digit millions in revenue, builds software dev center in S'pore

Zalora gets USD26M funding and double-digit millions in revenue, builds app dev center in S’pore March 12, 2013 by Terence LEE Zalora , a Rocket Internet fashion online retailer, announced today that it has raised EUR 20M (USD 26M) in investment from Tengelmann, a German retail company. It also revealed that it has set up a regional software development center in Singapore, and is currently achieving double digit millions USD in annualized revenue. Tengelmann is no stranger to Rocket Internet companies. In January this year, it invested about USD 20M in Lazada , an Amazon-like e-commerce site. Both Lazada and Zalora are active in the region, with the latter serving eight markets in Asia-Pacific and stocking over 500 brands and 20,000 product variations. Another regular investor in Rocket Internet is investment bank JP Morgan, which was the first outside investor for Zalora...

Full article: http://sgentrepreneurs.com/2013/03/12/zalora-gets-usd-26m...

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Zalora Gets $26 Million from Germany’s Tengelmann, Plans New Developer Base in Singapore

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