CURRENT AFFAIRS

Detailed explanation-1: -Daraz, Pakistan’s largest ecommerce retail platform, was founded in 2012 in Pakistan and acquired by Chinese giant Alibaba in 2018.

Detailed explanation-2: -With the largest logistics and payments networks in the region, Daraz is a part of people’s daily lives and it aims to serve 100 million customers and sellers by 2030. Daraz was fully acquired by Alibaba Group in 2018.

Detailed explanation-3: -Muneeb Maayr is Co-Founder at Daraz.pk, Pakistan’s leading ecommerce portal that sells fashion online. He started his career in investment banking in New York in 2001 but was quick to go the start-up route shortly thereafter, employing hundreds of analysts eventually in Pakistan performing data analysis on US equities.

Detailed explanation-4: -Alibaba snaps up Daraz Chinese tech giant Alibaba has expanded its footprints in Bangladesh after it snapped up online marketplace Daraz yesterday, in a development that can be viewed as a game changer for Bangladesh’s e-commerce landscape.

Detailed explanation-5: -“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, ” a press release from Daraz Bangladesh said.