U.S. markets closed
  • S&P Futures

    4,465.25
    +36.25 (+0.82%)
     
  • Dow Futures

    35,191.00
    +407.00 (+1.17%)
     
  • Nasdaq Futures

    15,144.25
    +107.00 (+0.71%)
     
  • Russell 2000 Futures

    2,264.10
    -8.00 (-0.35%)
     
  • Crude Oil

    82.66
    +1.35 (+1.66%)
     
  • Gold

    1,768.10
    -29.80 (-1.66%)
     
  • Silver

    23.35
    -0.13 (-0.54%)
     
  • EUR/USD

    1.1606
    +0.0005 (+0.05%)
     
  • 10-Yr Bond

    1.5760
    +0.0570 (+3.75%)
     
  • Vix

    16.30
    -0.56 (-3.32%)
     
  • GBP/USD

    1.3751
    +0.0074 (+0.54%)
     
  • USD/JPY

    114.2000
    +0.5230 (+0.46%)
     
  • BTC-USD

    61,190.25
    +564.43 (+0.93%)
     
  • CMC Crypto 200

    1,464.06
    +57.32 (+4.07%)
     
  • FTSE 100

    7,234.03
    +26.32 (+0.37%)
     
  • Nikkei 225

    29,068.63
    +517.70 (+1.81%)
     

Alibaba Reshuffles Lazada's Leadership For Growth: Bloomberg

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Alibaba Group Holding Ltd's (NYSE: BABA) Lazada Group created a new role to lead payments in Southeast Asia, Bloomberg reports.

  • Dayong Zhang, former Southeast Asia GM for Ant Group Co's Alipay, will lead Lazada's payments business.

  • Lazada's Singapore CEO James Chang will become the group's Chief Business Officer. Lazada Group CEO's office head Wee Lee Loh will replace Chang as the Singapore chief.

  • Lazada aims to compete with aggressive payment products positioning by Southeast Asian internet rivals like Grab Holdings Inc and Sea Ltd.

  • Lazada has been investing in technology and focusing on localization to cater to different consumer tastes across Indonesia, Malaysia, Singapore, Thailand, the Philippines, and Vietnam.

  • Lazada recorded more than 90% order growth during the June quarter and has about 150 million monthly average users.

  • Related Content: Chinese Stocks Gain Steam As Tencent's WeChat Agrees To Allow External Links

  • Price Action: BABA shares traded higher by 1.39% at $158.43 in the premarket session on the last check Friday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.