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Lazada
Lazada Group (Chinese: 來贊達; t/a Lazada) is an international e-commerce company and one of the largest e-commerce operators in Southeast Asia, with over 10,000 third-party sellers as of November 2014, and 50 million annual active buyers as of September 2019.[needs update]
Backed by Rocket Internet, Maximilian Bittner founded Lazada in 2012 as a marketplace platform that sells inventory to consumers from its own warehouses. Lazada modified its business model the following year to allow third-party retailers to sell their products on its platform too.[citation needed] The marketplace accounted for 65% of the company's sales in 2014.[needs update]
Lazada operates in Southeast Asia, except Myanmar, Laos, Cambodia, Brunei and East Timor. The company raised over $685 million from investors such as Tesco, Temasek, Summit Partners, JPMorgan Chase, and Kinnevik AB, before Alibaba Group acquired a controlling stake in April 2016 to support its international expansion plans.
Often, Lazada is compared to companies in Southeast Asia with a similar e-commerce platform, such as Shopee, Tokopedia, and Bukalapak.
In 2012, Maximilian Bittner founded Lazada with the intention of establishing an Amazon-like business model in Southeast Asia, to take advantage of the nascent online consumer market and Amazon's weak presence in the region. Lazada's e-commerce websites soft launched in 2012, before iOS and Android mobile apps for its platform were launched in June the following year.
The company commenced operations in Singapore in May 2014, where it is currently headquartered. In 2014, Lazada recorded $152.5 million in net operating losses, with net revenues of $154.3 million, although the percentage of losses—relative to gross merchandise value—was lower than the previous year due to growth in marketplace sales to $384 million that year, compared to $95 million in 2013.
Lazada faced challenges in 2015, when consumer preference for brick and mortar shopping was high. Less than 1% of people shopped online, compared to the international average of 10% at that time. This meant that Lazada had to tackle issues associated with the lack of credit cards, the concomitant requirement for cash on delivery systems, and the need for reliable delivery—especially in rural regions.
In March 2016, Lazada claimed it had become the largest e-commerce player in Southeast Asia, after recording $1.36 billion in annual gross merchandise value across the six markets it operates in.
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Lazada
Lazada Group (Chinese: 來贊達; t/a Lazada) is an international e-commerce company and one of the largest e-commerce operators in Southeast Asia, with over 10,000 third-party sellers as of November 2014, and 50 million annual active buyers as of September 2019.[needs update]
Backed by Rocket Internet, Maximilian Bittner founded Lazada in 2012 as a marketplace platform that sells inventory to consumers from its own warehouses. Lazada modified its business model the following year to allow third-party retailers to sell their products on its platform too.[citation needed] The marketplace accounted for 65% of the company's sales in 2014.[needs update]
Lazada operates in Southeast Asia, except Myanmar, Laos, Cambodia, Brunei and East Timor. The company raised over $685 million from investors such as Tesco, Temasek, Summit Partners, JPMorgan Chase, and Kinnevik AB, before Alibaba Group acquired a controlling stake in April 2016 to support its international expansion plans.
Often, Lazada is compared to companies in Southeast Asia with a similar e-commerce platform, such as Shopee, Tokopedia, and Bukalapak.
In 2012, Maximilian Bittner founded Lazada with the intention of establishing an Amazon-like business model in Southeast Asia, to take advantage of the nascent online consumer market and Amazon's weak presence in the region. Lazada's e-commerce websites soft launched in 2012, before iOS and Android mobile apps for its platform were launched in June the following year.
The company commenced operations in Singapore in May 2014, where it is currently headquartered. In 2014, Lazada recorded $152.5 million in net operating losses, with net revenues of $154.3 million, although the percentage of losses—relative to gross merchandise value—was lower than the previous year due to growth in marketplace sales to $384 million that year, compared to $95 million in 2013.
Lazada faced challenges in 2015, when consumer preference for brick and mortar shopping was high. Less than 1% of people shopped online, compared to the international average of 10% at that time. This meant that Lazada had to tackle issues associated with the lack of credit cards, the concomitant requirement for cash on delivery systems, and the need for reliable delivery—especially in rural regions.
In March 2016, Lazada claimed it had become the largest e-commerce player in Southeast Asia, after recording $1.36 billion in annual gross merchandise value across the six markets it operates in.