Alibaba Officially Acquired Daraz Group To Expand Its E-Commerce Business in South Asia. Alibaba, the China’s online e-store, has announced that it has officially acquired the Daraz Group. Daraz Group is the top most leading online e-store in Pakistan and other Asian countries including Bangladesh, Sri Lanka, Myanmar and Nepal was officially overtaken by the Alibaba Group.Daraz.pk officially founded in 2012 while the Alibaba Group was founded in 1999.
Now both the companies become one after Alibaba acquired Daraz. The acquisition was officially announced by the CEOs of both companies at social media platforms.
The aim of acquiring the Daraz Group is to expand the e-commerce business in five South Asian countries as these companies have strong customer base, 60% of which are under the age of 35.
Here is What the CEOs have revealed:
Bjarke Mikkelsen, Co-CEO, Daraz said:
With this transaction Daraz has found its natural home in the Alibaba family, and we are proud to carry our part of the mission to ‘make it easy to do business anywhere’. With hard work and dedication we have started the e-commerce journey in our markets, but we have still only scratched the surface of the potential.
Dr. Jonathan Doerr, Co-CEO, Daraz added:
Together with Alibaba, we are ready to empower entrepreneurs in the region and to fulfill our promise to offer our customers the best selection of products with a high level of convenience. All of this would be supported by a best-in-class technology platform, a strong logistics network, and a vibrant community of ecosystem participants.
Daniel Zhang, CEO of Alibaba Group, said:
We are excited for Daraz to become a part of the Alibaba ecosystem. 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.
There were a number of rumours since years that Daraz is acquired by Alibaba but there were no official confirmation. But now the companies have officially declared the collaboration. After this collaboration Daraz.pk will continue to work under the same name but will have a much better grasp of the industry.
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