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Souq.com was the largest e-commerce platform in the Arab world. The company launched in 2005 in Dubai, United Arab Emirates. On March 28, 2017, Amazon.com Inc. acquired Souq.com for $580 million as a subsidiary. On May 1, 2019, Souq.com UAE became known as Amazon.ae, while on June 17, 2020, Souq.com KSA became known as Amazon.sa.
Today marks a proud day for Souq and Amazon, a day that we have been working towards since the two companies came together in 2017. Amazon.ae brings together Souq’s local know-how and Amazon’s global expertise, something we believe will be of significant benefit to UAE customers.
Amazon has agreed to buy Middle Eastern online retailer Souq.com in a deal worth more than $650m that will shake up the region’s small but fast-growing ecommerce sector.
Jul 3, 2017 · Amazon has completed its acquisition of e-commerce firm Souq.com, which was first announced at the end of March and sees the U.S. retail giant enter the Middle Eastern market.
Established in 2005, Souq.com today operates both as an award-winning retail business and an online marketplace that allows SMEs, merchants, brands and distributors to distribute their products...
Souq operates an e-commerce platform in the Middle East and North Africa region. It offers products in the categories of baby and toddler, mobiles and accessories, computers and tablets, clothing and shoes, watches and jewelry, perfumes and fragrances, and toys and gaming, as well as TVs, audio, and camera.
Mouchawar tells how Souq grew from auction website to B2C-only business by enabling alternative payment methods and managing delivery in a region where basic logistics systems were still evolving.
