06 Dec '12, 12am

Rocket Internet's Lazada raises money again, gets USD26M from Summit Partners

Rocket Internet's Lazada raises money again, gets USD26M from Summit Partners

After raising USD40M from Kinnevik and tens of millions from JP Morgan , Lazada has done it again, announcing yesterday a USD26M investment from Summit Partners . The funds will be used for developing growth initiatives and expanding its product offering. Lazada, which is Rocket Internet’s version of Amazon, claims to be the largest online department store in Southeast Asia. It operates in Indonesia, Malaysia, Philippines, Thailand and Vietnam. “We seek to invest in companies that build long-term value, and Lazada has shown dynamic growth in a short period of time,” said Scott Collins, a managing director and head of Summit Partners London. On 21 November, Lazada launched a new fashion marketplace platform in Malaysia that caters to offline retailers that want online distribution and marketing services but desire control over logistics and operations. It plans to rollout t...

Full article: http://sgentrepreneurs.com/2012/12/06/rocket-internets-la...

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