For him, shifting from London to South Asia was a more significant difference. It is quite surprising how he managed to make a huge success of the shift but according to him, the skills he brought from his previous career helped him quite a lot in the ecommerce. He wanted to target the ecommerce industry with great success, he wanted to be in the right industry at the right time in the right market in order to take advantage and do something cutting edge. In 2015, the CEO of Daraz, Bjarke Mikkelsen took a leap from investment banking to ecommerce industry because he decided to do something different. The company’s Founder and CEO, Bjarke Mikkelsen was in an interview with Gigabit where he discussed strategies and ethos driving its success. Daraz is known to be the ecommerce leader in South Asia which has been built from a small startup in Pakistan to an important part of Alibaba’s global ecosystem. ^ "Alibaba Group's Daraz Acquires Leading Bangladesh Food Tech Startup HungryNaki to Expand Footprint in South Asia"." "Daraz to have 25 million users by 2022" - An interview with Ehsan Saya, Managing Director, Daraz Pakistan". ^ "Daraz unveils new services - Daraz Express and Daraz hubs"."Alibaba expands South Asia footprint, snapping up Pakistani online retailer Daraz". ^ "UK Gov't Leads $56M Round For Daraz, Rocket's Amazon Clone In Pakistan, Bangladesh And Myanmar".^ "Daraz, an online retailer, has secured $55M in Funding".^ "Rocket Internet merges ecommerce sites Daraz and Kaymu across Asia".^ "Rocket Internet merges Asia e-commerce startups Daraz, Kaymu".^ "Rocket Internet's APACIG launches e-commerce site in Myanmar, Bangladesh".^ "Alibaba-Owned Daraz Says E-Commerce Demand in South Asia Surging".^ "Alibaba Buys Online Retailer Daraz in Pakistan Push".^ "After a stuttering start, Rocket Internet's Daraz ecommerce marketplace is finally poised to take off".HungryNaki is getting more popularity as food delivery companies in Bangladesh. In 2021, Daraz expanded into the food delivery and hyper-local grocery sector through the acquisition of Bangladeshi startup HungryNaki. Today, DEX delivers over 60 per cent of all Daraz orders. Following the acquisition, Daraz Express (DEX), Daraz’s in-house digitalised logistics arm was launched in September 2018 to support its growth into key markets. 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. 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. Daraz Group is a multinational technology company that focuses on e-commerce, logistics, payment infrastructure and financial services.
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