Alibaba Eats up Daraz
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Alibaba Group has acquired south Asian e-commerce platform Daraz for an undisclosed sum.
This will make Daraz Group’s platform a wholly owned unit of the Chinese e-commerce provider, which also runs the Taobao and Tmall platforms.
“Together with Daraz, we can empower entrepreneurs to better serve consumers in the region through our technology and expertise,” says Alibaba CEO Daniel Zhang.
Founded in 2012, Darez has grown throughout Pakistan, Bangladesh, Sri Lanka, Myanmar and Nepal. It has 30,000 sellers and 500 brands on its platform, with 2 million products available to its 5 million customers. Its product offerings range across consumer electronics, household goods, beauty, fashion, sports equipment and groceries. It also offers multiple payment options, including COD.
Daraz Co-CEO Jonathan Doerr says its acquisition by Alibaba will help drive further growth in its key markets, home to 460 million people, 60 per of which are 35 years and younger.
Daraz will continue to run under its brand name after the transaction.
Questions & Answers
Q.Which specific countries does Daraz operate in currently?
Which specific countries does Daraz operate in currently?
Daraz currently operates across several south Asian countries. Its presence is established in Pakistan, Bangladesh, Sri Lanka, Myanmar, and Nepal, serving customers in these five markets.
Q.What kind of products does Daraz offer to its customers?
What kind of products does Daraz offer to its customers?
Daraz offers a wide array of products across various categories. These include consumer electronics, household goods, beauty products, fashion items, sports equipment, and groceries, catering to diverse customer needs.
Q.Will Daraz continue to operate under its existing brand name following the acquisition?
Will Daraz continue to operate under its existing brand name following the acquisition?
Yes, Daraz will continue to operate under its established brand name after the transaction is completed. The acquisition by Alibaba Group does not appear to involve a rebranding.
Q.How many active sellers and brands are currently on the Daraz platform?
How many active sellers and brands are currently on the Daraz platform?
The Daraz platform currently hosts 30,000 sellers offering their products. Also, there are 500 different brands available to customers through the e-commerce provider.
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