Alibaba: buys Pakistan's e-commerce platform Daraz
(CercleFinance.com) - Alibaba has acquired Pakistan's e-commerce platform Daraz Group, the Chinese giant said on Tuesday, further spreading its e-commerce reach outside of China.
Founded in 2012, Daraz has operations in Pakistan, Bangladesh, Sri Lanka, Myanmar and Nepal. It has 2 million products available to 5 million customers, Alibaba said.
The purchase, for an undisclosed sum, will make Daraz a wholly owned unit of Alibaba.
Daraz will continue to operate under its brand name after the transaction.
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Founded in 2012, Daraz has operations in Pakistan, Bangladesh, Sri Lanka, Myanmar and Nepal. It has 2 million products available to 5 million customers, Alibaba said.
The purchase, for an undisclosed sum, will make Daraz a wholly owned unit of Alibaba.
Daraz will continue to operate under its brand name after the transaction.
Copyright (c) 2018 CercleFinance.com. All rights reserved.