Daraz
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 | |
Formerly | Azmalo.pk (2012-2013), Kaymu.pk (2013-2015) |
|---|---|
| e-commerce | |
| ISIN | 🆔 |
| Founded 📆 | 2012; 10 years ago |
| Founder 👔 | Bjarke Mikkelsen |
| Headquarters 🏙️ | , |
Area served 🗺️ | Bangladesh, Myanmar, Nepal, Pakistan, Sri Lanka |
Key people | Bjarke Mikkelsen (CEO) |
| Members | |
Number of employees | 3,000 as of 2023 |
| Parent | Alibaba Group |
| 🌐 Website | daraz |
| 📇 Address | |
| 📞 telephone | |
Daraz Group is a multinational technology company that focuses on e-commerce, logistics, payment infrastructure and financial services. Founded in 2012 with the backing of Rocket Internet, it was first launched in Pakistan as an online fashion retailer.
As of 2023, Daraz's headquarters is based in Karachi, Sindh, Daraz was founded by Bjarke Mikkelsen in 2012 under the name Azmalo.pk. Daraz is available is currently available in 4 South Asian countries, Pakistan, Bangladesh, Nepal and Sri Lanka as of 2023.
History[edit]
Daraz was originally founded as an online fashion retailer in Pakistan in 2012 by Muneeb Maayr and Farees Shah. 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.
Daraz Group was formed in 2015 as the parent company of Daraz' operations in Pakistan, Bangladesh and Myanmar[1] . In July 2016, Daraz acquired Kaymu, a consumer-to-consumer online marketplace in South Asia. With this acquisition, it began operations in Nepal and Sri Lanka.[2][3]
In September 2015, Daraz secured €50 million in its Series B funding to support the expansion of operations across its markets. 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.[4][5][6]
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.[7][8][9][10] Following the acquisition, Daraz Express, Daraz's in-house digitalised logistics arm was launched in September 2018[11]to support its growth into key markets. Today, Daraz Express delivers over 60 per cent of all Daraz orders.[12]
In 2021, Daraz expanded into the food delivery and hyper-local grocery sector through the acquisition of Bangladeshi startup HungryNaki.[13] In 2022, Daraz announced their rebranding efforts. [14] [15] [16] [17]In June 2022, Cainiao Network announces that they will serve as the cross-border logistics provider for Daraz.[18] Cainiao announced that it is launching two automated distribution centres in Karachi and Lahore.[19] On 6 February 2022, Daraz announced that they will be reducing their workforce by 11%. [20]
Recognition[edit]
In 2019, Daraz Bangladesh won the 'Asia One Fastest Growing Brands and Leaders' Award under the e-commerce category.[21]In 2021, Daraz won the Retail Asia Awards 2021. The company was honoured with the awards in 'E-Mall of the Year' and the 'CSR Initiative of the Year' categories.[22][23]
In 2022, Daraz Pakistan was awarded the 'Employer of Choice for Gender Diversity Awards in Pakistan' by the International Finance Corporation, a member of the World Bank Group and Pakistan Business Council.[24][25]
In 2021 and 2022, Daraz Sri Lanka was awarded the Great Place to Work® Certification re-affirming the company’s position as a one of the most sought-after employers that attracts and retains the best talents in the country.[26]
References[edit]
- ↑ "Rocket Internet's APACIG launches e-commerce site in Myanmar, Bangladesh". 27 Jan 2015.
- ↑ "Rocket Internet merges Asia e-commerce startups Daraz, Kaymu". DealStreetAsia. Retrieved 2022-08-17.
- ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2022-08-17.
- ↑ "Online marketplace Daraz.com raises $55 million in first round of funding - Information portal". retail-loyalty.org. Retrieved 2022-08-17.
- ↑ Release, Press (2015-09-23). "Daraz, an online retailer, has secured $55M in Funding". Tech Prolonged. Retrieved 2022-08-17.
- ↑ "UK Gov't Leads $56M Round For Daraz, Rocket's Amazon Clone In Pakistan, Bangladesh And Myanmar". TechCrunch. Retrieved 2022-08-17.
- ↑ Browne, Ryan (8 May 2018). "Alibaba expands South Asia footprint, snapping up Pakistani online retailer Daraz". CNBC. Retrieved 2022-08-17.
- ↑ "Subscribe to read | Financial Times". www.ft.com. Retrieved 2022-08-17.
- ↑ "Alibaba buys Rocket Internet's Daraz to expand its e-commerce empire into South Asia". TechCrunch. Retrieved 2022-08-17.
- ↑ Jajja, Sumaira (2018-05-09). "As Alibaba buys Daraz, many ask: what next?". DAWN.COM. Retrieved 2022-08-17.
- ↑ NewsTeam (2018-09-20). "Daraz unveils new services - Daraz Express and Daraz hubs". ktm2day.com. Retrieved 2022-08-17.
- ↑ Report, BR Web Desk | Recorder (2020-03-04). ""Daraz to have 25 million users by 2022" - An interview with Ehsan Saya, Managing Director, Daraz Pakistan". Brecorder. Retrieved 2022-08-17.
- ↑ "Alibaba-owned Daraz acquires Bangladeshi food tech startup HungryNaki". DealStreetAsia. Retrieved 2022-08-17.
- ↑ Niazi, Abdullah (2022-01-30). "What the Daraz rebrand means". Profit by Pakistan Today. Retrieved 2023-02-08.
- ↑ "Daraz's rebranding to transform Sri Lankan e-commerce | Daily FT". www.ft.lk. Retrieved 2023-02-08.
- ↑ Cambosa, Teddy (2022-01-27). "South Asia-centric e-commerce platform Daraz unveils new brand look". MARKETECH APAC. Retrieved 2023-02-08.
- ↑ News, Nepal. "Daraz unveils new brand look". nepalnews.com. Retrieved 2023-02-08.
- ↑ "Cainiao partners with Daraz on cross-border e-commerce". Air Cargo News. 2022-06-07. Retrieved 2022-08-17.
- ↑ "Alibaba logistics arm to Pakistan for e-commerce unit Daraz". TechCrunch. Retrieved 2022-08-17.
- ↑ Shahid, Ariba (2023-02-07). "Chinese ecommerce giant Alibaba-backed Daraz cuts workforce by 11%". Reuters. Retrieved 2023-02-08.
- ↑ Express, The Financial. "Daraz BD wins 'Asia One Fastest Growing Brands and Leaders' award". The Financial Express. Retrieved 2022-08-17.
- ↑ cxonnewsnews (2021-08-13). "Daraz Wins Big at Retail Asia Awards 2021". CxO News. Retrieved 2022-08-17.
- ↑ "Daraz won 'Retail Asia Awards 2021' in E-Mall and CSR Categories". Startup Pakistan. 2021-08-16. Retrieved 2022-08-17.
- ↑ "IFC Announces Winners of Employer of Choice for Gender Diversity Awards in Pakistan". 7 Jun 2022.
- ↑ isbpostadmin (2022-06-08). "Alibaba Group's Daraz wins prestigious gender diversity award". Islamabad Post. Retrieved 2022-08-17.
- ↑ "Daraz certified as a 'Great Place to Work' in Sri Lanka | Daily FT". www.ft.lk. Retrieved 2022-08-26.
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