Alibaba has expanded into South Asia through its acquisition of Daraz.
Daraz was founded in 2012 by Rocket Internet and operates in Pakistan as well as Bangladesh, Myanmar, Sri Lanka and Nepal. Rocket said in a statement that Alibaba has acquired the entire Daraz business. The website will continue to operate under the same brand following the sale to Alibaba.
Daraz is mainly an online marketplace, and also sell and fulfil some products under its 'Grocer's Shop' section. It hosts 30,000 sellers and 500 brands and offers about two million products to its five million shoppers.The main categories being sold include electronics, mobile phones, books and fashion. It provides cash on delivery service across Pakistan, and express delivery within 24 hours at no extra cost.
Alibaba eyeing South Asia
The other business that Alibaba has acquired from Rocket was Lazada, a similar online platform in Southeast Asia. And it has been increasing its investment in the platform. The acquisition of Daraz marks another move of the ecommerce empire into South Asia. Alibaba’s Ant Financial invested in Bangladesh mobile financial service provider bKash.
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