Alibaba completed a $379m investment in Lazada.

Alibaba, a provider of online and mobile commerce businesses, completed a $379m investment in Lazada, a developer of an online shopping and selling marketplace. Alibaba plans to expand Lazada to Europe in order to diversify its growth as competition has heated up in China. Alibaba already has a presence in Europe through AliExpress, which does cross-border sales from China.