How does it feel to have Chinese e-commerce giant Alibaba take a $1 billion shine to your company?
"I describe it a little bit like (being) a kid in a candy store," Maximilian Bittner, CEO of the Lazada Group, tells CNBC's "Managing Asia."
Alibaba poured the 10-digit sum to gain a controlling stake in the Singapore-based Lazada Group in April this year, placing a bet on the diverse Southeast Asian consumer market of 600 million people.
But Bittner said Alibaba doesn't write checks on a whim.
"Alibaba didn't just give us money without doing a significant amount of work," he said. "The process is not an easy process so (by) the actual time the deal was signed, I didn't think I had the strength to pop open a bottle of champagne. I just wanted to sleep."