Daraz is the leading e-commerce company in South Asia, which was showering the people in Pakistan, Bangladesh, Sri Lanka, Myanmar, and Nepal with its lucrative online services. These days, the e-commerce website had created quite a buzz with the mouth-watering deals on the smartphone likes Xiaomi Redmi 4A and the Nokia 8 and also the laptop deals. The same website has now been acquired by the Chinese e-commerce giant Alibaba. This step is heavily remarked by the Tech pundits as Alibaba Group’s plan to expand its e-commerce business in South Asia. Those pundits have also predicted that this step would subject to revolutionize the online business scenario in the developing countries like Nepal.
With this acquisition, Daraz will now present itself in the market with high hopes and would look forward to leveraging Alibaba’s leadership and experience in technology, online commerce, mobile payment, and logistics to drive further growth in the five South Asian markets. And the most interesting thing is that this market has a combined population of over 460 million in which 60% of are under the age of 35. So Alibaba has great potential to succeed in the South Asian market too.
Founded in 2012 in Pakistan, the e-commerce portal had been the online marketplace in South East Asia expanding its territory in the countries like Pakistan, Bangladesh, Sri Lanka, Bangladesh, and Nepal. And it also had garnered substantial goodwill and growth over the years. Spreading the awareness regarding the online sales and purchases, the e-commerce had been able to serve 5 million customers. Over the years, the company started to sell the products ranging from consumer electronics to household goods, beauty, fashion, sports equipment, and groceries. And during that period, it has also able to create an e-commerce empire consisting of 30,000 resellers making the sales of over 500 brand products.
Despite the press release of the acquisition, the amount of money spent by Alibaba Group to acquire Daraz has not been divulged yet. Nonetheless, with so much of goodwill and penetration of Daraz in the market, we can assume that the e-commerce titan will find it easy to grow and deliver its services in the constituent countries. We can also expect that the presence of Alibaba in the countries like Nepal would ensure cheap and easy shipping of the foreign products. With the presence of Alibaba in Nepal, we can expect things, services, and products to be cheaper than they used to be. However, the company’s further plans have not been revealed yet, so nothing much can be said yet.