Karachi: Renowned Chinese company Alibaba has purchased Daraz.pk. Alibaba Group has successfully entered Pakistani E-Commerce market by acquiring Daraz.pk.
According to the press release issued by Daraz officials, the company will benefit a great deal from this acquisition. They expressed, “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.”
The press release also stated that Daraz.pk will continue to operate under the same brand.
Daraz.pk was founded in 2012. Since then, Daraz has expanded its operations in Bangladesh, Myanmar, Sri Lanka and Nepal.
The two CEOs of Daraz, Bjarke Mikkelsen and Jonathan Doerr said that there is still a long way to go on the e-commerce journey. “We have still only scratched the surface of the potential.”
Alibaba group also expressed that this acquisition will prove to be fruitful for both companies and their dedicated clientele base.
Daniel Zhang, CEO of Alibaba Group expressed in a statement, “Together with Daraz, we can now empower entrepreneurs to better serve consumers in the region through our technology and expertise. In Daraz, we found a great team that espouses our values and believes that a technology-enabled commerce ecosystem will play a critical role in driving the long-term economic development in South Asia.”