Pakistan, 8th May: China’s largest e-commerce company, the Alibaba Group, announced it has acquired the Daraz Group, which claims it is South Asia’s largest e-commerce platform. The terms of the deal were not disclosed.

Daraz, founded in 2012, is a leading e-commerce platform in Pakistan, Bangladesh, Sri Lanka, Myanmar and Nepal. According to media reports, Daraz hosts 30,000 sellers and 500 brands, with two million products available to its five million registered consumers. Key product categories available on the platform include consumer electronics, household goods, beauty, fashion, sports equipment and groceries.