Daraz Group Joins the Alibaba Ecosystem
Enabling Daraz’s further growt hacrossits key markets
Karachi:DarazGroup,aleadinge-commerce companyinPakistan,Bangladesh, Sri Lanka,Myanmarand Nepaltodayannouncedthatthe companywas fully acquired byAlibaba tobecomeamemberofAlibabaGroup.
Withtheacquisition, DarazwillbeabletoleverageAlibaba’s leadershipandexperience in technology,onlinecommerce, mobilepaymentandlogisticstodrivefurthergrowthinthefive SouthAsianmarketsthathaveacombinedpopulationofover460million,60%ofwhichare undertheageof 35.
DarazwasfoundedinPakistan in2012andhassincegrownintothemostpopular online shoppingdestinationinthecountry.Today,thecompany operatesonlinemarketplacesin Bangladesh,Myanmar,SriLankaandNepal.Darazwillcontinuetooperateunderthesame brandfollowingthetransaction.
BjarkeMikkelsen, Co-CEO,Darazsaid,”WiththistransactionDarazhasfounditsnaturalhome intheAlibabafamily,andweareproud tocarryourpartofthe mission to’makeiteasy todo businessanywhere’. Withhardworkanddedicationwehavestartedthee-commerce journeyin ourmarkets,butwehavestillonlyscratchedthesurfaceof thepotential.”
Dr.JonathanDoerr,Co-CEO,Darazadded,”TogetherwithAlibaba,weareready toempower entrepreneurs intheregionandtofulfillourpromisetoofferourcustomersthebestselectionof productswithahighlevelofconvenience. Allofthiswouldbesupportedbyabest-in-class technology platform,astronglogisticsnetwork,andavibrantcommunity ofecosystem participants.”
DanielZhang,CEOofAlibabaGroup,said,”WeareexcitedforDaraztobecomeapartofthe Alibabaecosystem. TogetherwithDaraz,wecannowempowerentrepreneurstobetterserve consumersintheregionthroughourtechnologyandexpertise.InDaraz,wefoundagreatteam thatespousesourvaluesandbelievesthatatechnology-enabledcommerceecosystemwillplay acriticalroleindrivingthelongtermeconomicdevelopmentinSouthAsia.
