Alibaba Purchasing Daraz!

We have been hearing from quite many days that Alibaba is purchasing Daraz Group. Well today, Geo News has confirmed the news. Rocket Internet disclosed today that the entire share capital of Rocket Internet’s South Asian e-commerce platform Daraz Group is being bought by Alibaba Group.

Daraz was started in 2012, and is currently operational in SriLanka, Myammar, Nepal and Bangladesh. The Daraz system will keep the same pace as before.

Oliver Samwer, CEO 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”,

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He further said, “The acquisition by Alibaba is a tremendous success for the entire team working at Daraz.”

Lets see whether Daraz delivers same service under the ownership of Alibaba or not…