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25-674: 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. The marketplace accounted for 65% of the company's sales in 2014. 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

50-665: A GmbH (private limited company) to an AG (public limited company). The initial public offering took place on 2 October 2014 on the Frankfurt Stock Exchange at €42.50 per share. The company was listed in the Entry Standard and got uplisted in Prime Standard on 26 September 2016. In October 2016 it was announced that Rocket Internet replaces Chorus Clean Energy AG in SDAX. Rocket Internet SE joined

75-423: A TikTok video promoting a sale by the company. Posted on 5 May, the video included a depiction of a woman using a wheelchair, which was perceived as an attempt to mock the younger sister of King Vajiralongkorn , Princess Chulabhorn . Chulabhorn uses a wheelchair as a result of lupus . 245,000 members of the army were prohibited from patronising Lazada as a result. Rocket Internet Rocket Internet SE

100-463: A 1.8% share, with main investors holding shares of 3.4%; 16.3% was held in free float . In January 2017, Rocket Internet Capital Partners announced its final closing of $ 1 billion dedicated to early stage and growth equity investments. It is the biggest tech fund of any VC firm to date in Europe. On 1 September 2020, Rocket Internet announced its delisting . As of February 2021, Rocket Internet

125-456: A 15-day return policy and next-day delivery options were also put in place. In October 2019, Lazada partnered with Citibank to launch a new credit card, first in Malaysia, and subsequently in other countries. In 2023, Alibaba was restructured internally into six business units held by a holding company in response to China's regulatory pressure to decentralise its business power. and Lazada

150-491: 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

175-783: A particular business sector. Rocket Internet's original backing of both Take Eat Easy and Delivery Hero was questioned when Take Eat Easy was forced into liquidation in July 2016. Intellectual Property Office of the Philippines The Intellectual Property Office of the Philippines shortened as IPOPHL , is a government agency attached to the Department of Trade and Industry in charge of registration of intellectual property and conflict resolution of intellectual property rights in

200-515: A promotional section on Lazada's platform, including polyester shirts, razors, electric toothbrushes, and more. Sustainability experts criticised the promotion as many of the products advertised were plastic disposable products, and offering discounts for such products did little to reduce plastic waste. Lazada faced a boycott by the Royal Thai Army in May 2022 due to a controversy arising from

225-483: A response they have launched LazMall in 2018, The Intellectual Property Office of the Philippines recorded Lazada to be the largest source of reports for counterfeit products it received in the first half of 2023 at 69 percent. Lazada launched its LazEarth campaign in April 2022 to reduce plastic waste in its products and packaging. This coincided with the launch of an Earth Day promotion, when 5,000 products labelled "sustainable" or "planet-friendly" were grouped into

250-687: Is a German Internet company headquartered in Berlin . The company builds startups and owns shareholdings in various models of internet retail businesses. The company model is known as a startup studio or a venture builder. It provides office space to new companies at its headquarters in Berlin, with IT support, marketing services and access to investors . As of 2016, Rocket Internet has more than 28,000 employees across its worldwide network of companies, which consists of over 100 entities active in 110 countries. The company's market capitalization

275-762: The Philippines . It was established under Republic Act No. 8293 also known as Intellectual Property Code of the Philippines , which took effect on January 1, 1998, during the administration President Fidel V. Ramos . Under guiding theme "Unlocking the Future: Tech Trends and Challenges in Copyright," GMA Network and IPOPHL launch the Second Philippine International Copyright Summit from October 21 to 25, 2024 at Novotel Manila Araneta City . At

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300-601: The MDAX index of German mid-cap stocks on 19 March 2018. This decision was announced by Deutsche Börse AG (Frankfurt Stock Exchange) on 5 March 2018. On 18 March 2015 the company changed its legal form into an SE (Societas Europaea). In mid-December 2016, Global Founders held 37.1% in Rocket Internet, Kinnevik 13.2%, United Internet 8.3%, Baillie Gifford 6.5%, Philippine Long Distance Telephone Company 6.1% and Access Industries 6.0%. Holtzbrinck Ventures held

325-429: The apology, found that the retrenchment benefits was not satisfactory, and were in negotiation with Lazada for a better retrenchment benefits for the affected workers. Later it came to light that the retrenched workers are being locked down by a set of 12-month non-compete clauses if they wish to retain their vested stocks. The non-compete clauses include the prevention of working in an extensive list of companies such as in

350-470: 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. In September 2018, the company introduced LazMall on its platform to encourage its users to purchase from authentic brands. New services such as

375-471: The five industry sectors, Rocket Internet owns stakes in companies at varying maturity stages, ranging from recently launched models to companies that are in the process of establishing leadership positions or still expanding their geographic reach. Rocket Internet's current portfolio englobes the following companies: Rocket Internet's most notable unit is Global Founders Capital, its venture capital investment arm. Its debt financing arm, Global Growth Capital

400-477: The growth of the middle class in Southeast Asia, having estimated that the regional population with a disposable income of $ 16 to $ 100 a day would double to 400 million people by 2020. In June 2017, Alibaba injected $ 1 billion in Lazada, raising its stake from 51% to 83%. Lazada faces issues of counterfeit products being sold on its platform. The company has insisted a zero tolerance policy towards such products. As

425-400: 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 ,

450-552: 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

475-541: The supermarket chain NTUC Fairprice. Lazada has raised multiple rounds of funding since its founding in 2012. In April 2016, Alibaba Group announced its intention to acquire a controlling stake in Lazada by paying $ 500 million for new shares, and buying $ 500 million worth of shares from existing investors. Tesco sold its stake in Lazada—totalling 8.6%—to Alibaba for $ 129 million. Alibaba based its investment on

500-471: The time, the reason for this string of layoffs was "bad quality of new products" and a "gruff manner" towards employees in the course of Rocket Internet's expansion into a "large corporation". The former Rocket Internet managers subsequently went on to found the incubator Project A Ventures with help from the Otto Group . Questions were raised around Rocket's support of multiple competing companies in

525-443: The union, Food, Drinks and Allied Workers Union (FDAWU), was not consulted by the company about the retrenchment exercise. It was reported that the company would expect to reduce its Southeast Asia headcount by 25%-50%. The retrenched workers were given 2 weeks of pay for every year worked with them. Lazada later published an apology statement, stating it would consult the union for future retrenchment exercises. The union though accepted

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550-570: Was placed under the Alibaba International Digital Commerce (AIDC) business unit. AIDC would inject up to US$ 1.8 million into Lazada in 2023. Since 2023, Lazada had conducted several rounds of retrenchment. In October 2023, it had a small retrenchment exercise. On 3 January 2024, it had another round of retrenchment. On 3 January 2024, Lazada began retrenching an undisclosed number of employees from its Singapore headquarters. Despite its workers being unionised,

575-411: Was recognized as one of the top startup studios based on website traffic to its top 3 portfolio companies. Rocket Internet follows the strategy of building companies on the basis of proven Internet-based business models. According to Rocket Internet's financial statements the company especially concentrates on Food & Groceries, Fashion, Home & Living and Travel. In addition to the companies in

600-429: Was set up in 2016. In 2020, Rocket Internet launched Flash Ventures Rocket Internet's past investments include shares in the following companies: The company has been criticised for its " copycat " strategy of founding startups which replicate the business models of other established, successful companies. In 2011, 20 of the then-130 employees left Rocket Internet at the same time. According to media coverage at

625-547: Was €3.49 billion as of 3 November 2017. On 12 July 2021, the market capitalization was €3.7 billion. The company was founded in Berlin in 2007 by three brothers: Marc, Oliver and Alexander Samwer and was once also connected to the European Founders Fund, an associated company. In 2008, Rocket Internet founded Zalando , emulating the business model of US online retailer Zappos.com . On 1 July 2014, Rocket Internet changed its legal form from

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