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BUSINESS & TECH

Alibaba Takes Magic Carpet Ride to Pakistan

Alibaba has bought Daraz (pictured), South Asia’s largest e-commerce platform. Photo: IC
Alibaba has bought Daraz (pictured), South Asia’s largest e-commerce platform. Photo: IC

E-commerce giant Alibaba Group Holding Ltd. has moved into Pakistan with its purchase of a leading local online seller, extending its South Asia footprint as it expands into other developing markets.

No financial terms were given for Alibaba’s purchase of Daraz Group, which was announced by the Pakistani’s parent Rocket Internet on Tuesday. In the deal, Alibaba will acquire Daraz’s entire share capital.

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