Apni Market is a South Asian online marketplace founded in 2012 by a German venture capital company, Rocket Internet. Daraz Group operates e-commerce platforms and logistics services in Pakistan, Bangladesh, Nepal, Sri Lanka, and Myanmar. In May 2018, Apni Market Group was acquired by the Chinese e-commerce company Alibaba Group.[1][2] History In September 2015, Apni Market secured EUR50 million in its Series B funding in order to expand operations in Pakistan, Bangladesh and Myanmar. CDC Group, a state-owned Development Finance Institution (DFI) in the UK[5], invested €20 million alongside a €30 million investment from existing majority shareholder, Asia Internet Holdings.[6][7] In July 2016, Apni Group acquired Kaymu, a consumer-to-consumer online marketplace in South Asia, and with the acquisition began operations in Sri Lanka and Nepal. [8][9][10] In May 2018, Apni Group announced that it had been acquired by Alibaba Group for an undisclosed 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. Alibaba Group also runs Singapore's Redmart and owns stakes in India's Paytm and Indonesia's Tokopedia.[11][12][13] Apni Market 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.