Alibaba Purchased Pakistan'sDaraz
China's E-commerce giant Alibaba purchased Pakistan's e-commerce firm Daraz, Daraz was founded in 2012 purchased from Rocket Internet, According to Alibaba, it has key markets in Pakistan, Sri Lanka, Bangladesh, Myanmar, Nepal claiming 300 sellers and 500 brands.
Daraz includes Electronics household goods,beauty,sports and groceries.
Daraz saidtho 46e acquistion would help further growth in its main markets,adding that they were home to 460 million people,60 percent of whom were under age of 35.
China is seeking closer economic ties with Asian neighbours including Pakistan through its Belt and Road initiative, a strategy to increase trade links that are led primarily by infrastructure projects.
In India also Alibaba has its presence, like Paytm is supported by Alibaba groups and India's favourite browser UC browser is also a product of Alibaba groups, Alibaba had tried in Indian market by Investing in Snapdeal and Paytm, But Snapdeal didn't perform well against arch-rival Flipkart, but Paytm played well in Indian market, after Demonetisation which forces India toward Digital payments Paytm become very popular in India, Alibaba invested 200 million $ in Paytm mall this can is the entrance of Alibaba in India.
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