Alibaba has expanded its e-commerce empire into South Asia after the Chinese internet giant acquired Daraz in an undisclosed deal.
Daraz 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. The deal is the second time Alibaba has bought a Rocket company, the first being Lazada in Southeast Asia two years ago.
An Alibaba spokesperson confirmed the deal, but the company hasn’t made an official announcement.