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Amazon buys Souq

marking its move into the Middle East

     
11:03 pm on Mar 28, 2017 (gmt 0)

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Amazon today confirmed that it has acquired Souq.com, an e-commerce marketplace serving the Middle East based out of Dubai, which was already commonly described as “the Amazon of the Middle East.”
Amazon’s acquisition of Souq marks the company’s first move into serving the Middle East region, which covers a total of some 50 million consumers across several countries, as well as a relatively untapped market: only about two percent of all retail spend today is made online, according to a report from McKinsey.
[techcrunch.com...]
 

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