In a surprise move, Alibaba, the China-based global ecommerce giant, has acquired Daraz Group, a leading e-commerce company in Bangladesh and several other South Asian countries. Shayantani Twisha, public relations and communication manager of Daraz Bangladesh confirmed the acquisition to the Dhaka Tribune on Tuesday. She said: “From now on, Daraz Bangladesh will be a part of Alibaba.”The acquisitions include Daraz operations in Pakistan, Nepal, Sri Lanka, and Myanmar. The ecommerce site, along with several other internet-based services such as Lamudi and Foodpanda, were launched by the German venture capital company Rocket Internet. “Together with Daraz, we can now empower entrepreneurs to better serve consumers in the region through our technology and expertise,” he said.

Source: Dhaka Tribune May 08, 2018 09:11 UTC