Alibaba acquires Pakistan’s eCommerce platform Daraz.pk
Alibaba has expanded its e-commerce operations into South Asia after their acquisition of Daraz.pk in an undisclosed deal.
Daraz.pk was founded in 2012 by Rocket Internet and today it operates in Pakistan as well as Bangladesh, Myanmar, Sri Lanka and Nepal. Rocket said in a statement that Alibaba has acquired the entire Daraz business.
Alibaba acquires the entire share capital of Rocket Internet’s Daraz.PK Business. The acquisition is the second time Alibaba has bought a Rocket company, the first being Lazada in Southeast Asia two years ago.
The deal’s financial details were not disclosed. In mid-March, it was reported that the acquisition talks were ongoing.
Pakistan have a population of over 190 million which is good for Alibaba to make business.