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Myanmar Shoppers Spend $90,000 in 1 Hour During Alibaba’s ‘11.11’ Online Sale

The local unit of Chinese e-commerce giant Alibaba Group sold over $90,000 worth of goods in the first hour of its first-ever online sale aimed at Myanmar shoppers on Sunday. The local version of Alibaba’s global “11.11” online sale was conducted by Myanmar’s biggest online shopping platform, SHOP.com.mm. SHOP said in a statement that over […]

Online Retailer Daraz Raises €50 Million

Daraz, an online retailer in Asian frontier markets, has secured €50 million ($55.9 million) in its first major financing round. The investment comes from the CDC Group – the UK Government’s Development Finance Institution (DFI) focused on supporting and developing businesses in Africa and South Asia – as well as Daraz’s existing investor Asia Pacific […]