Online shopping is booming in Nepal, and one of credit for this boom also goes to popular e-commerce site Daraz Shopping. With the different offers and deals organized by the Daraz Shopping has the key hand in attracting customers towards the online shopping experience. Customers throughout the world mostly enjoy online shopping experience through some popular e-commerce site like Amazon and Alibaba. Now the Nepali customers can enjoy the international shopping experience, as the e-commerce giant is entering the South Asian market. The Alibaba buys Daraz Group.
Founded in 2012 by Rocket internet, is now the property of Alibaba. However, the company has not disclosed the deal amount. Similarly, Daraz will continue its operation under the same brand, said Rocket Internet in the statement.
Daraz Group, a leading e-commerce company in Pakistan, Bangladesh, Sri Lanka, Myanmar, and Nepal. Now, the group is under the Alibaba Group as the company has announced the acquisition of Daraz Group. With the acquisition, the Daraz Group will have Alibaba’s leadership and experience in technology, online commerce, and operation to drive further growth in the five South Asian markets. Daraz will continue to operate under the same brand following the transaction.
Alibaba buys Daraz Group, from a European Tech company, Rocket Internet.
Bjarke Mikkelsen, Co-CEO, Daraz said, “With this transaction, Daraz has found its natural home in the Alibaba family, and we are proud to carry our part of the mission to ‘make it easy to do business anywhere’. 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.”
Dr. Jonathan Doerr, Co-CEO, Daraz added, “Together with Alibaba, we are ready to empower entrepreneurs in the region and to fulfill our promise to offer our customers the best selection of products with a high level of convenience. All of this would be supported by a best-in-class technology platform, a strong operation network, and a vibrant community of ecosystem participants.”
Daniel Zhang, CEO of Alibaba Group, said, “We are excited for Daraz to become a part of the Alibaba ecosystem. Together with Daraz, we can now empower entrepreneurs to better serve consumers in the region through our technology and expertise. In Daraz, we found a great team that espouses our values and believes that a technology-enabled commerce ecosystem will play a critical role in driving the long-term economic development in South Asia.”
About Daraz Group
Launched in 2012, Daraz is South Asia’s online marketplace of choice – present in Pakistan, Bangladesh, Sri Lanka, Myanmar, and Nepal. Supported by a wide range of tailored marketing, data, and service solutions, the pioneering e-commerce 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 is owned by Alibaba Group Holding Limited.