Internet giant Amazon has decided to enter the Middle East’s nascent e-commerce market by striking a deal to buy Dubai-based online retailer Souq.com. The announcement of the deal, which was reportedly worth around $650 million, ended months of speculation about…
Souq.com, the region’s biggest online retailer, is reportedly planning to sell around a 30 percent stake that would give the company a valuation of at least $1.2 billion. The Dubai-based company has appointed Goldman Sachs to find potential buyers for…
Over the past decade, Souq.com has quickly risen to become the region’s largest online retailer. The company’s CEO and Founder Ronaldo Mouchawar is confident of even greater success as enthusiasm for e-commerce amongst consumers picks up pace. By Dina al-Wakeel…