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AliBaba acquires Daraz Group

Daraz Group, a number one e-commerce firm in Pakistan, Bangladesh, Sri Lanka, Myanmar and Nepal immediately introduced that the corporate was totally acquired by Alibaba to grow to be a member of Alibaba Group.

With the acquisition, Daraz will have the ability to leverage Alibaba’s management and expertise in expertise, on-line commerce, cellular fee and logistics to drive additional progress within the 5 South Asian markets which have a mixed inhabitants of over 460 million, 60% of that are below the age of 35.

Daraz was based in Pakistan in 2012 and has since grown into the most well-liked on-line buying vacation spot within the nation. Immediately, the corporate operates on-line marketplaces in Bangladesh, Myanmar, Sri Lanka and Nepal. Daraz will proceed to function below the identical model following the transaction.

Bjarke Mikkelsen, Co-CEO, Daraz stated, “With this transaction Daraz has discovered its pure residence within the Alibaba household, and we’re proud to hold our a part of the mission to ‘make it straightforward to do enterprise anyplace’. With laborious work and dedication now we have began the e-commerce journey in our markets, however now we have nonetheless solely scratched the floor of the potential.”

Dr. Jonathan Doerr, Co-CEO, Daraz added, “Along with Alibaba, we’re able to empower entrepreneurs within the area and to meet our promise to supply our prospects one of the best collection of merchandise with a excessive degree of comfort. All of this may be supported by a best-in-class expertise platform, a powerful logistics community, and a vibrant neighborhood of ecosystem individuals.”

Daniel Zhang, CEO of Alibaba Group, stated, “We’re excited for Daraz to grow to be part of the Alibaba ecosystem. Along with Daraz, we will now empower entrepreneurs to higher serve customers within the area by way of our expertise and experience. In Daraz, we discovered a terrific staff that espouses our values and believes technology-enabled commerce ecosystem will play a crucial position in driving the long run financial growth in South Asia.”

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