In May 2018, Daraz announced it was acquired as a wholly owned subsidiary of Alibaba Group for an undisclosed amount, as part of Alibaba’s expansion into South Asia. CDC Group, a state-owned Development Finance Institution (DFI) in the UK, invested €20 million alongside a €30 million investment from Daraz's existing majority shareholder, Asia Internet Holdings.
#DARAZ PK SERIES#
In September 2015, Daraz secured €50 million in its Series B funding to support the expansion of operations across its markets. With this acquisition, it began operations in Nepal and Sri Lanka.
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In July 2016, Daraz acquired Kaymu, a consumer-to-consumer online marketplace in South Asia. Daraz's initial funding came from Rocket Internet and focused on the fashion sector, but was changed to a general e-commerce marketplace in 2015.ĭaraz Group was formed in 2015 as the parent company of Daraz’s operations in Pakistan, Bangladesh and Myanmar. History ĭaraz was originally founded as an online fashion retailer in Pakistan in 2012 by Muneeb Maayr and Farees Shah. ījarke Mikkelsen is founder of Daraz Group and its current CEO. In May 2018, Daraz Group was acquired by Chinese e-commerce company Alibaba Group. Founded in 2011 with the backing of Rocket Internet, it was first launched in Pakistan as an online fashion retailer and later expanded to Bangladesh, Sri Lanka, Nepal, and Myanmar as Daraz Group after a shift in its business model. It offers uncompromised smartphone experiences, personalized third-party apps and pioneering Microsoft services to millions of people across the globe.Īs the youth of the country are becoming digitized via the use of smartphones and social media, the trend of online shopping is also becoming popular among them.Daraz Group is a multinational technology company that focuses on e-commerce, logistics, payment infrastructure and financial services. The Lumia series, known for its innovation and trendiness, is one of the fastest growing smartphone ranges around the world.
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Daraz.pk is Pakistan’s leading online shopping portal which is visited by millions of people from around the country and is celebrated for its reliability and convenience.This collaboration presents Lumia devices to a unique segment of online shoppers.
#DARAZ PK WINDOWS#
Karachi – 28 th August, 2014: Microsoft Devices Pakistan recently signed an MoU with Daraz.pk, enabling fans of Windows Phones to browse, select and purchase their favourite Lumia devices directly from the comfort of their homes.
#DARAZ PK FULL#
With the proliferation of 3G internet technology, we are confident that this collaboration will be beneficial for consumers across Pakistan and allow them to access the full range of Lumia phones whilst sitting in the comfort of their homes.”ĭaraz.pk is Pakistan’s leading online shopping portal which is visited by millions of people from around the country and is celebrated for its reliability and convenience. The Lumia brand is synonymous with a well-designed and quality product, and we are delighted to welcome them on board. With Daraz.pk’s unparalleled shopping experience, Microsoft Devices has expanded its reach to millions of hearts in the country.I am extremely thankful to our teams, especially Ali Fahad, Usman Ashfaq, and Umair Aleem.”Ĭommenting on the occasion, Farees Shah, Co-Founder, Daraz.pk said: “Our partnership with Microsoft Devices is a further testament to our commitment of making Daraz.pk the pioneer e-commerce website in Pakistan. As more and more people are gearing themselves with smartphones, our collaboration with Daraz.pk gives our valued customers and admirers the chance to purchase Windows Phones right from their homes.
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Speaking at the signing ceremony, Kamran Masood Niazi, Communications Manager, Microsoft Devices Pakistan said: “Microsoft Devices is gaining a lot of traction in Pakistan. Daraz.pk is Pakistan’s leading online shopping portal which is visited by millions of people from around the country and is celebrated for its reliability and convenience. Microsoft Devices Pakistan recently signed an MoU with Daraz.pk, enabling fans of Windows Phones to browse, select and purchase their favourite Lumia devices directly from the comfort of their homes.