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.