Notebookcheck Logo
, , , , , ,
search relation.
, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
 

Amazon to buy Souq.com

Souq.com Arab e-commerce website homepage, Amazon to acquire Souq
Souq.com homepage
After turning down an $800 million offer from Emaar Malls PJSC, the Dubai-based online retailer Souq.com signs an agreement to join Amazon. However, the terms of the deal were not disclosed.
Codrut Nistor,

Amazon now aims the Middle East, managing to succeed where the company behind the world’s biggest shopping center, Emaar Malls PJSC, failed. Souq.com is a Dubai-based online retailer that recently rejected a bid of $800 million from Emaar Malls PJSC but has just agreed to join Amazon.

According to Russ Grandinetti, Amazon Senior Vice President, International Consumer, "We're looking forward to both learning from and supporting them with Amazon technology and global resources. And together, we’ll work hard to provide the best possible service for millions of customers in the Middle East."

Suoq.com currently has over 45 million visits per month, offering 31 product categories that currently feature over 8.4 million items. The brand has localized operations in Egypt, Saudi Arabia, and the UAE.

The financial terms of the deal were not disclosed, and the acquisition is expected to close by the end of the year, being subject to customary closing conditions.

+ Show Press Release
static version load dynamic
Loading Comments
Comment on this article
Codrut Nistor
Codrut Nistor - Senior Tech Writer - 5565 articles published on Notebookcheck since 2013
In my early school days, I hated writing and having to make up stories. A decade later, I started to enjoy it. Since then, I published a few offline articles and then I moved to the online space, where I contributed to major websites that are still present online as of 2021 such as Softpedia, Brothersoft, Download3000, but I also wrote for multiple blogs that have disappeared over the years. I've been riding with the Notebookcheck crew since 2013 and I am not planning to leave it anytime soon. In love with good mechanical keyboards, vinyl and tape sound, but also smartphones, streaming services, and digital art.
Please share our article, every link counts!
Codrut Nistor, 2017-03-29 (Update: 2017-03-29)