, , ,

In its bid for world domination, Amazon buys up main competition in the Middle East


Amazon has officially announced its acquisition of Souq.com, marking another step in the ecommerce giant’s pursuit of world domination. 

Souq.com, which at one time was valued at $1 billion, emerged as the go-to online shopping destination in the Middle East, quickly drawing comparisons to Amazon. Founded in Dubai, UAE, Souq reportedly sold to Amazon for $650 million.

Amazon had competition. Emaar Malls, a Dubai-based operator of shopping centers, submitted an $800 million bid for Souq.

We’re happy & proud to join @amazon family @HamdanMohammed 🙂 https://t.co/yYVrv4svWi

— Souq.com UAE (@souq) March 28, 2017 Read more…

More about Business, Middle East, Ecommerce, Amazon, and Business

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *