JP Morgan invests in Lazada
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.