Asian E-Commerce Company Lazada Raises $26 Million
Lazada is an Asian e-commerce company that has raised $26 million in funding. The investor in this round was from Germany-based Summit Partners. Lazada will be using the funding to build on their existing product portfolio. Some of the items that they sell include household goods, cameras, computers, toys, and sports equipment.
Lazada is popular in countries like Indonesia, Thailand, Vietnam, and the Philippines. Lazada generated around $40 million in mid-November and the company received funding from JPMorgan. Lazada is run by German incubator company Rocket Internet.