Amazon has raised $2.4 billion in a new round of financing that will give the e-commerce giant more options to expand its consumer business and bolster its global presence.
The round, led by private equity firm Andreessen Horowitz, will be led by Morgan Stanley, as well as Chinese investors and private equity funds.
Amazon also said that it will use the financing to buy back more than $2 billion in Amazon stock, which has dropped more than 7% in the last year.
The investment comes as Amazon’s stock has risen more than 6% since the company announced its earnings on Monday, and the company’s market value has jumped nearly 25% this year.
Amazon has faced growing pressure from investors over its performance.
It has struggled to turn a profit in recent quarters as consumers turn away from brick-and-mortar retailers, and Amazon’s revenue growth has been slowing.
Amazon’s growth has also been driven by online shopping, with the company adding more than 1.2 million online customers in the quarter ended in September.
Amazon also has faced a string of regulatory battles in the U.S., most notably with the Federal Trade Commission (FTC), which in January levied an unprecedented $6.2 billion fine against Amazon for its failure to disclose more information about its practices.
The company has faced several lawsuits from the FTC in recent years, including one that accused Amazon of conspiring with other tech companies to “facilitate the illegal purchase of goods from retailers.”
Amazon also faces antitrust lawsuits from competitors including Google, Apple and Facebook.