Lazada in talks to buy Redmart for rumored $30m to $40m

Oct 30, 2016Updated Jun 4, 20251 min read

Southeast Asia ecommerce portal Lazada is reportedly in talks to buy online grocery provider Redmart. The acquisition amount is said to be around US$30 million to US$40 million, which if true, is in the low range given it raised US$26.7 million last year.

Redmart had apparently held unsuccessful talks with supermarket chain NTUC and Singapore sovereign wealth fund GIC. It also received a “lowball” offer from Amazon.

The startup had been in trouble for some time. While its revenue grew, its expenses increased at an even faster clip.

Lazada is controlled by Chinese online shopping Alibaba, which in April took a commanding stake in the Rocket Internet-born startup for US$1 billion.

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Mei Ling Tan

Contributor · RetailNews.asia

Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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