Chinese company Alibaba has bought Daraz.pk

From a report by Reuters, Chinese Company 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.

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.

In the past there were rumors that Alibaba will buy Daraz.pk and now it is happened.
By: Reuters