E-commerce marketplace Daraz was launched by Rocket Internet and received funding from the Rocket and Ooreedo-formed Asia Pacific Internet Group.
Daraz, the Pakistan-based online marketplace incubated by commerce holding company Rocket Internet ,was acquired by online retail group Alibaba on Tuesday for an undisclosed sum.
Founded in 2012, Daraz sells goods including consumer electronics, fashion and beauty products through local e-commerce stores serving Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. It will retain the Daraz brand name following the acquisition.
The company raised $56m in a 2015 series A round led by UK government-owned development finance institution CDC Group,…
