- 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.
The Boston Beer Company Partners With PepsiCo For U.S. Launch Of New ‘HARD MTN DEW’ Alcoholic Offering
The Boston Beer Company and PepsiCo today announced plans to enter a business collaboration to produce HARD MTN DEW alcoholic beverage. The partnership unites Boston Beer's world-class innovation and expertise
