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JP Morgan invests in Lazada

Abe Olandres Editor-in-chief September 13, 2012 · 1 min read

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Got the announcement fromt he big bosses in Lazada that they’ve just signed an agreement with JP Morgan for a fresh round of funding.

Lazada is one of the fastest-growing start-up in the Philippines, growing from 25 to 250 employees in a span of six month.

A couple of weeks ago, news of lay-offs (around 60 employees) puzzled folks into thinking the company might be burning a lot into their original investment and might fold up soon.

The announcement of JP Morgan is certainly a sign that they still have lots of room for growth.

Here’s the full copy of the release they sent this morning.

Though the press release did not indicate how much money was invested into Lazada, several rumors point to “upwards of” $50 million.

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Abe Olandres

Editor-in-chief

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and is considered by many as the Father of Tech Blogging in the Philippines.

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19 Comments

Neil · 14 years ago

No. It is a press release.

supplier · 14 years ago

I have personally spoken with the bosses of this company after they approached our company so that they could sell our products. All I can say is that their big bosses are really arrogant BIG a—oles and that other suppliers I have talked with feel the same way. They won’t last in our market if they don’t learn to respect other organizations.

xxx · 14 years ago

Many of their customers encounter bad service from them, try to look their facebook fan page.

Edwin C · 14 years ago

Nag-order ako ng PS Vita sa Lazada noong Aug 30 tapos pagka-monday na-deliver naman. Dito ako sa Cebu. Bakit ba nagrereklamo ang iba sa inyo? ‘La yata kayong pera, eh.

Former Employee · 14 years ago

Sana alam ng ni Sir Abe kung paano ang palakad ng management ng Rocket Internet which is the parent company ng Lazada/Zalora sites. Hire and fire sila ng mga tao dito. Kung may kakilala kayong nag wowork dito ask niyo kung gaano karami na silang tinanggal na empleyado. Of course may naka ready na silang excuse for it. Ang weird ng business practice nila.

cyb · 14 years ago

I saw it right from the start when I applied. Good thing I got another job. They are too bloated they expanded too much — not proportionate to their growth. As long as Wideget City , Kimstore, etc give better deal they will continue to bleed. The market is not that ripe and they are too ambitious– and proud thinking they can penetrate the Phil market that easy.