MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

Alibaba buys Daraz to expand its e-commerce business into South Asia

Alibaba buys Daraz to expand its e-commerce business into South Asia

Alibaba has acquired Rocket Internet SE-backed online retailer, Daraz. This move marks the expansion of its e-commerce business to Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. This is the second time that the Chinese internet giant is buying a Rocket company, the first one being Lazada in Southeast Asia two years ago. The financial terms of the deal are not disclosed, and the acquisition will make Daraz a wholly owned unit of Alibaba.

Alibaba has expanded its e-commerce empire into South Asia after the Chinese internet giant acquired Daraz in an undisclosed deal. “We are excited for Daraz to become a part of the Alibaba ecosystem”, said Alibaba CEO Daniel Zhang. “Together with Daraz, we can now empower entrepreneurs to better serve consumers in the region through our technology and expertise.

Since its inception in 2012, Daraz has grown into an e-commerce company with around 30,000 sellers, 500 brands, 2 million products and a customer base of 5 million. The company believes that after merging with Alibaba, it will be able to better serve its customers with better products and convenience. Daraz Co-CEO, Bjarke Mikkelsen said, “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.” Additionally, Alibaba is also planning to deepen its reach into South Asia by buying a 20 percent chunk of payment firm, bKash.

YOU MAY ALSO LIKE

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

RECOMMENDED