Daraz Group, a leading e-commerce company operating in Pakistan, Bangladesh, Sri Lanka, Myanmar and Nepal on Tuesday announced that the company was fully acquired by Alibaba to become a member of the giant Alibaba Group.
With the acquisition, Daraz will be able to leverage Alibaba’s leadership and experience in technology, online commerce, mobile payment and logistics to drive further growth in the five South Asian markets that have a combined population of over 460 million, 60 per cent of which are under the age of 35.
Launched in 2012, Daraz is South Asia's online shopping and selling destination of choice – present in Bangladesh, Pakistan, Sri Lanka, Myanmar and Nepal. Supported by a wide range of tailored marketing, data, and service solutions, the pioneering ecommerce ecosystem in South Asia has 30,000 sellers and 500 brands, serving 5 million consumers.
With 2 million products available, Daraz offers a diverse assortment of products in categories ranging from consumer electronics to household goods, beauty, fashion, sports equipment, and groceries. Focused on providing an excellent customer experience, it offers multiple payment methods including cash-on-delivery, comprehensive customer care and hassle-free returns. Daraz now is owned by Alibaba Group Holding Limited.
