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Financial details of Alibaba's acquisition of daraz

Original title: Alibaba's acquisition of daraz, a Southeast Asian e-commerce platform

Rocket Internet, a German Internet investment company, announced on Tuesday that China's Alibaba Group has acquired all the shares of daraz group, its Pakistan e-commerce platform.

The financial details of the deal were not disclosed.

Daraz was founded in 2012 and operates e-commerce platforms in Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. After being acquired by Alibaba, the company will continue to operate under its original brand.