MAY 8, 2018 / 5:19 PM / UPDATED 4 HOURS AGO
Alibaba buys Rocket Internet's Pakistan ecommerce platform Daraz
Reuters Staff
FRANKFURT (Reuters) - Alibaba Group (BABA.N) has bought the entire share capital of Rocket Internet’s (RKET.DE) South Asian ecommerce platform Daraz Group, Rocket Internet said on Tuesday.
A sign of Alibaba Group is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 3, 2017. REUTERS/Aly Song/
It did not disclose financial details.
Alibaba Group Holding Ltd
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Daraz, founded in Pakistan in 2012, operates online marketplaces in Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. The unit will continue to operate under the same brand following the sale to Alibaba, Rocket said.
Reporting by Maria Sheahan; Editing by Tom Sims
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