08-09-16: Jack Ma eyes Singapore e-commerce market

By Anya Palm

The charismatic billionaire businessman, Jack Ma, owner of the mega-webshop Alibaba, has his eyes on the Singapore e-commerce market – and possibly even further.

Recently Ma invested a whopping 1 billion dollars in the popular newcomer to the webshop market, Lazada, and given the fact that Alibaba has a firm grip on the market in both China and India, pundits now speculate that Singapore and with that South East Asia is next on the list.

Lazada already has a significant customer base spread out over six South East Asian, countries, points out Varun Mittal, who is the head of partnerships and markting in the online-payment company, Hello Pay:

“Alibaba has investments in both China and India. Southeast Asia sits right in the middle of that. Now that Alibaba has Southeast Asia, it has this part of Asia covered.”