In a shocking development today, the leading e-commerce company in Pakistan, Daraz Group, has been purchased by Chinese company Alibaba group.
Daraz is a leading e-commerce company in Pakistan, Sri Lanka, Myanmar, Bangladesh, and Nepal. In Pakistan, one of their websites Daraz.pk is the biggest e-commerce store of Pakistan along with Kaymu and others.
Alibaba Group who operates one of the largest e-commerce websites of the world, Ali Express, today completely purchased the Daraz Group.
This acquisition will allow Daraz to become better in all aspects of the industry because the company will now be able to leverage the experience and technology of Alibaba Group.
Daraz began its operations in Pakistan in 2012 with their online store Daraz.pk. Since then it became the biggest online store in the country and later expanded into other South Asian markets.
Daraz.pk will continue to operate under the same name but will have a much better grasp of the industry. Together the company will be able to use the best in class technology provided by Alibaba.
This acquisition will benefit both the customers and the team at Daraz Group.