Lazada Group secures EUR 200 million of funding from Temasek, Rocket Internet, Kinnevik, Verlinvest and other existing investors
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• Lazada valued at EUR1 billion post this investment round • Lazada continues its strong growth with GMV approximately doubling since June 2014 • Lazada’s marketplace platform is a key driver of overall growth
Singapore, 29 November 2014 – Lazada Group GmbH (“Lazada”, “the Company”), which operates Southeast Asia’s number one online shopping mall, has secured EUR200 millionof fundingled by Temasek, a Singapore-based investment company, along with several existing investors including Rocket Internet, Kinnevik and Verlinvest.
Maximilian Bittner, CEO of Lazada Group, said, “This investment provides us with the strategic flexibility to further anchor our leadership position and enhance the shopping experience for our customers. We are extremely delighted to welcome Temasek as a new investor and long-term local partner and we are also very grateful for the continued confidence of our existing investors. To us, it is a clear recognition of our leading regional footprint, and an affirmation of the growth strategy and potential of our business.”
He added, “The eCommerce market in Southeast Asia is still in its early days and we will continue to invest in our operations to enhance our customer experience.”
Since its operational launch in 2012, Lazada has expanded rapidly with operations in six countries – Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam - as well as a sourcing center in Hong Kong that drives cross-border marketplace activities.
The strong growth momentum has continued this year with sales on Lazada’s websites and mobile applications approximately doubling since June 2014. A key driver of the growth has been Lazada’s Marketplace, a platform for third-party merchants. With Marketplace sales increasing more than 10 times since January 2014, the platform now accounts for approximately 70% of Lazada’s overall monthly sales.
Lazada’s popularity and success among customers have been built on its promise of effortless shopping. The Company plans to use the additional funds to expand and improve its logistics infrastructure, payment solutions and IT systems to enhance the shopping experience for its customers.
Goldman Sachs (Asia) LLC acted as exclusive financial advisor to Lazada Group.
ABOUT LAZADA GROUP
Lazada Group operates Southeast Asia’s number one online shopping mall, which is available in Indonesia (www.lazada.co.id), Malaysia (www.lazada.com.my), Philippines (www.lazada.com.ph), Singapore (www.lazada.sg), Thailand (www.lazada.co.th) and Vietnam (www.lazada.vn).
Operationally launched in March 2012, Lazada has grown rapidly to include approximately 3,000 employees across Southeast Asia. The Company has an online footprint of more than two million daily visits to its websites, and the largest Facebook following in Southeast Asia with over 9 million fans.
Lazada is pioneering eCommerce in the region by providing customers with an effortless shopping experience with multiple secure payment methods including cash on delivery, extensive customer care and free returns. Lazada features an extensive product offering in categories ranging from consumer electronics to household goods, toys, fashion and sports equipment.
ABOUT TEMASEK
Incorporated in 1974, Temasek is an investment company based in Singapore, with a S$223 billion (US$177 billion) portfolio as at 31 March 2014.
Temasek’s portfolio covers a broad spectrum of sectors: financial services; transportation, logistics and industrials; telecommunications, media & technology; life sciences, consumer & real estate; energy & resources. Its investment themes reflect Temasek’s perspectives on the long term trends:
- Transforming Economies;
- Growing Middle Income Populations;
- Deepening Comparative Advantages; and
- Emerging Champions.
Temasek’s compounded annualised Total Shareholder Return since inception in 1974 is 16% in Singapore dollar terms, or 18% in U.S. dollar terms.
The company has had a corporate credit rating of AAA/Aaa since its inaugural credit rating in 2004, by rating agencies Standard & Poor’s and Moody’s respectively.
Temasek has offices in 11 cities around the world, including São Paulo and Mexico City in Latin America; and London and New York, which both opened in 2014. The remaining offices are all in Asia, including China and India.
For more information on Temasek, please visit www.temasek.com.sg.
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