Southeast Asian e-commerce firm Lazada Group came close to running out of cash in 2016. It had blown through nearly US$700 million worth of capital in four years. But at the eleventh hour, Chinese internet giant Alibaba Group swooped in and acquired control of the company. By 2017, Alibaba had bought out most of Lazada’s investors for US$2 billion. And Rocket Internet, the startup venture builder that kickstarted Lazada, laughed its way to the bank.
The Berlin-based company made a 20X return 20X return Retaildetail.eu Rocket Internet and Kinnevik have sold their final shares in Asian Lazada Read more on Lazada, Alibaba’s most high-profile and expensive overseas investment to date.