ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Asia300

Alibaba buys Pakistani online marketplace

Daraz services Myanmar, Bangladesh, Sri Lanka and Nepal

Alibaba is rapidly expanding its business beyond its home base in China.   © Reuters

SHANGHAI -- Alibaba Group Holding has acquired Pakistani peer Daraz Group, a move that will help the top Chinese e-commerce platform expand its reach in Asia.

Alibaba did not disclose the financial terms of the deal in Tuesday's announcement. Daraz will become a wholly owned subsidiary of the Chinese giant.

Founded in Pakistan in 2012, Daraz has steadily expanded its services to Myanmar, Bangladesh, Sri Lanka and Nepal. The online retailer, whose customers are mostly in their 30s, aims for further growth with the help of Alibaba's supply network and expertise in fields such as electronic payments through the Alipay service.

Alibaba bought Singapore-based peer Lazada for $1 billion in 2016 and has since invested heavily in the company. Lazada operates in Southeast Asian countries such as Thailand, Indonesia and the Philippines.

The acquisition push appears to be paying off -- Alibaba's overseas sales roughly doubled to 14.2 billion yuan ($2.23 billion) in the fiscal year ended March 2018.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more