Alibaba one of the leading e-commerce company in the world is in talks with Rocket Internet to purchase Daraz in Pakistan. As per a Bloomberg report, both Alibaba and Daraz are in talks and are negotiating on price to buy the biggest e-commerce website in Pakistan. An anonymous source is the informant of this news.
Presently the talks between Alibaba and Daraz are in the initial stage, and no final decision has been made but by the looks of it Alibaba might soon acquire Daraz.
This news is followed by the news we heard yesterday that Alibaba Group is investing $2 billion extra in Lazada Group which is a South-east Asian e-commerce company. In 2016 Alibaba invested in Lazada and took control of 51% stakes of the firm. At that time it invested $1 billion in the company. Then in June 2017 the company invested $1 billion more in the company and gained 83% of the stakes. Alibaba issued a statement saying, “We want Lazada’s deeper integration into our ecosystem in order to better support merchants and customers in innovative ways.”
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Furthermore Alibaba’s Ant Financial also recently announced that it will invest 184.5million in Telenor Microfinance Bank (TMB) and in return gain 45% stake in the bank. The aim is to develop the mobile payment and digital system of the Telenor Microfinance Bank.
Coming back to the acquisition of Daraz by Alibaba, there was a similar news that appeared a few months back. The news said that Alibaba has acquired Daraz for $150 million, which was not true. There are talks definitely going on for the acquisition of Daraz but no final decision has been made. Yes, there are chances that Alibaba will acquire Daraz and by the looks of it, it will happen quite soon. E-commerce industry will further grow in Pakistan if this acquisition takes place successfully.