14 Nov '12, 10am

Rocket Internet’s #Lazada gets $40M #investment from Swedish investment firm Kinnevik.

Rocket Internet’s Lazada receives $40M from Swedish investment firm Kinnevik to expand its reach in Asia. Earlier in September, we wrote that Rocket Internet’s e-commerce service Lazada has just received a huge investment round by JP Morgan , which was rumored to be in the hundreds of millions of dollars. Now the startup has had more money pouring into the company, with Swedish investment firm Kinnevik injecting US$ 40 million in fresh funding. It can be noted that Kinnevik took a 25% stake in Rocket in the first quarter of 2012. The new investment round by Kinnevik is expected to help Lazada expand its product offerings and expand its reach further. TechCrunch notes that what’s interesting with this fresh capital infusion is that Rocket has actually placed an exact “price tag” on Lazada. Read on for the full press release. Press Release **** Singapore, 12th November 2012 ...

Full article: http://e27.sg/2012/11/14/rocket-internets-lazada-gets-40m...

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