Chinese Giant eCommerce company Alibaba is strengthening its presence after acquiring South Asian Daraz. Daraz is Asia’s Online Marketplace offering its services in Pakistan, Sri Lanka, Myanmar, Bangladesh and Nepal. It was developed by Rocket Internet and providing its services for buying consumer goods, households, fashion and beauty products, etc.
Chinese Giant eCommerce Company Alibaba is continuously expanding its network in Asia region. After acquiring Daraz, Alibaba has its strong network in Pakistan and some African countries.
After the announcement of China-Pakistan “One Belt One Road Initiative”, there is always a slight chance of happening these kinds of investments.
Noticeable points are there…
In India, Alibaba enters with investment in Snapdeal and it seemed as Alibaba Burnt his finger. There was a light sound in the Indian eCommerce industry that Flipkart is going to acquire Snapdeal and deal was broke because of Snapdeal’s inefficiency.
"Now, Alibaba is gripping strongly in Asia continent".
In a statement of Alibaba CEO, it expresses that the new opportunities are going be to uncover in Asia.
Daraz Co-CEO Jonathan Doerr said, “Together with Alibaba, we are ready to empower entrepreneurs in the region and to fulfil our promise to offer our customers the best selection of products with a high-level of convenience.”
"For Alibaba this deal is important because Daraz has the customer base of around 460 million and 60% of these segment is under the age of 35".
“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,” said Daraz Co-CEO Bjarke Mikkelsen.
"The amount and shares of these acquisitions are still undisclosed."
Oliver Samwer, CEO of Rocket Internet, said, “The sale of Daraz to Alibaba is another testament to Rocket Internet’s ability to successfully scale and exit market-leading companies. Leading technology and a strong logistics network have helped to create one of the fastest growing companies in the region. The acquisition by Alibaba is a tremendous success for the entire team working at Daraz.”
"Alibaba started gripping in Indian eCommerce Industry with an eCommerce company (Snapdeal) and soon invested in a Fintech company Paytm and finally in a logistics, XpressBees".
This is another step of Alibaba towards making an eCommerce triangle in the world. This is a starting and soon, according to its previous steps, Alibaba will make an investment in any Fintech startup.