Daraz Group joins Alibaba Ecosystem

Staff Correspondent: Daraz Group, a leading e-commerce company in Pakistan, Bangladesh, Sri Lanka, Myanmar and Nepal today announced that the company was fully acquired by Alibaba to become a member of Alibaba Group.

With the acquisition, Daraz will be able to leverage Alibaba’s leadership and experience in technology, online commerce, mobile payment and logistics to drive further growth in the five South Asian markets that have a combined population of over 460 million, 60% of which are under the age of 35.

Daraz was founded in 2012 and has since grown into the most popular online shopping destination in the countries it operates in. Daraz will continue to operate under the same brand following the transaction.


risingbd/Dhaka/May 8, 2018/Feroz/Nasim