Chinese technology group Alibaba purchases Pakistani Ecommerce giant Daraz from German company Rocket Internet in a bid to expand in Pakistan.
Daraz which operates in Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal will continue to operate under the same brand name but is now part of Alibaba.
Alibaba buying Daraz means better service in E-commerce and quality goods?
— Bilaaager Hina Safdarr (@hinasafi) May 8, 2018
People in Pakistan are expecting that after the acquisition by a giant like Alibaba the services of the online store will become better.
Pakistan is a $330 billion economy which Alibaba wants to cover with its corporate power.
This acquisition comes after Ant Financial, also owned by Alibaba founder Jack Ma, bought 45% shares in Telenor Microfinance Bank. Alibaba also invested millions in India’s Paytm which is considered world’s largest Digital Bank.
This will be interesting. What will the other online players in #Pakistan do to up their game?
— SarahDrama (@SarahDawood) May 8, 2018