According to a report by Bloomberg, Alibaba Group is in talks to acquire one of Pakistan’s largest e-commerce platforms, Daraz.pk.
The report further reveals that the group is currently in early price negotiations with Rocket Internet.
Daraz is a subsidiary of Rocket Internet, which is German based. The platform has caught the attention of the Chinese officials sometime back as they encouraged and praised how fast the country was adapting to the trend and concept of e-commerce.
Not to forget, Pakistan is one of the fastest growing markets, when it comes to e-commerce.
The group is interested in tapping into the Pakistani market to see if there is any potential for them to grow in a new market.
China is already investing in the country via China-Pakistan Economic Corridor, which is a project both countries have started and are working on to improve their relationship with one another.
As of now, Pakistan has 30 million active Internet users, and brands are redoubling their attention to e-commerce, Daraz said in a statement last month.
We are yet to see where this interesting acquisition heads to in the near future.
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