Alibaba Group is to invest almost another $ 1 billion in Southeast Asian e-commerce platform Lazada, bringing Lazada's implied valuation up to $ 3.15 billion.
The two companies have released a joint statement to announce the the deal that will increase Alibaba Group's stake from 51% to 83%.
Alibaba plowed $ 1 billion into Lazada in April 2016 to take a controlling share.
The move was made up of $ 500 million in Lazada shares and purchased shares from other Lazada stakeholders, including Rocket Internet (the Frankfurt-listed incubator that invested in Lazada), Tesco, and Kinnevik.
That made Lazada worth $ 1.5 billion at the time.
Rocket Internet announced today that it had sold its remaining 8.8% stake in Lazada to Alibaba Group for $ 276 million.
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