Just as Alibaba celebrated their new record of $38.4 billion in GMV on the Singles’ Day shopping festival, rumors questioning the integrity of those numbers surfaced and circulated on Chinese social media platforms.
Retail giant Tmall Global launched its first English-language website to attract more merchants and businesses from around the world to join China’s largest cross-border online shopping platform.
Daraz Group and its parent organization Rocket Internet SE have both announced today that the Chinese e-commerce giant Alibaba Group has acquired Daraz. Alibaba Group acquired the entire share capital from Rocket Internet for an undisclosed amount, making Daraz Group an wholly owned subsidiary under Jack Ma’s empire.
