Muneeb Maayr is
Co-founder of Daraz.pk. Daraz.pk is
the best destination for online shopping and product search in the country. It
contains more than 300 brands. Daraz.pk is entirely funded with foreign
investment.
Muneeb Maayr said
that, we have direct investment from Qatar-based telecommunication company
Ooredoo and Berlin-based Rocket Internet is our parent company. Draz was
founded as a fashion dealer in Pakistan on Jul 1, 2012, but changed to a
general marketplace strategy and business model in 2015 when it also launched
operations in Bangladesh and Myanmar.
Some of Draz.pk?s
investors include Asia Pacific Internet Group and CDC Group. CDC Group, a
state-owned Development Finance Institution (DFI) in the UK financed ?20
million alongside a ?30 million investment from Daraz existing majority
shareholder, Asia Internet Holdings. Draz.pk?s headquarters is situated in
Karachi, Sindh, PK 75600. With more than 2 million products available, Daraz.pk
offers a miscellaneous variety of products in categories ranging from customer
electronics to domestic goods, sports equipment, beauty, fashion, and
foodstuffs.
Its main aim is
to provide an excellent buying experience, it also offers multiple payment
methods including bank transfer, cash-on-delivery, comprehensive customer care,
and easy returns. In July 2016, Daraz Group acquired Kaymu, a
consumer-to-consumer online marketplace in South Asia, and with the acquisition
began operations in Sri Lanka and Nepal.
In May 2018,
Daraz Group announced that it had been acquired by Alibaba Group for a secret
amount. This move comes about two years after Alibaba?s acquisition of Lazada
Group, which was also a startup by Rocket Internet Group in South East Asian
market. Daraz Group?s five markets (Pakistan, Bangladesh, Nepal, Myanmar, &
Sri Lanka) cover more than 460 million people of which 60% are under the age of
35.
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