Chinese e-commerce giant Alibaba enters Nepal

Kathmandu, May 8

Chinese e-commerce giant Alibaba has ‘entered’ Nepal and four other South Asian countries by acquiring a Pakistan-based company operating in the sub-continent.

According to reports, Alibaba Group has bought the entire share capital of Rocket Internet’s Daraz Group, Rocket Internet. The financial details are, however, under the wraps.

Daraz, founded in 2012, has its presence in online marketplaces in Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. Rocket says that Daraz will continue to operate under the same brand following the sale.

“Daraz will be able to leverage Alibaba’s leadership and experience in technology, online commerce, mobile payment and logistics to drive further growth in the five South Asian markets that have a combined population of over 460 million, 60% of which are under the age of 35,” said Rocket Internet in a statement.

Chief Executive Officer (CEO) Alibaba Group Daniel Zhang said the acquisition will empower entrepreneurs to better serve consumers in the region.

Daraz entered Nepal as ‘Kaymu’ in 2014 and was later re-branded as Daraz in August 2017.

Published on May 8th, Tuesday, 2018 4:37 PM

Download Onlinekhabar App. Android click here & IOS click here . Keep in touch with us on Facebook, Twitter & YouTube.

Related News Gautam declines National Assembly membership after Oli-Dahal refuse to budge on constitution amendment Palm Oil: Know more about the pros and cons of Nepal’s biggest ‘export’ Kuwait flag on Ama Dablam raises eyebrows

1 Comment
  • Samrid says: | May 08 2018 4:53pm

    Does this mean that we Nepali from Nepal can directly import products form without third party like tudoholic, iwishbag, yalamart? If so then it is a big relief from paying unnecessary charges to third party importers.


Leave a Reply

Your email address will not be published.

You May Like This