Amazon reportedly set to buy Souq

Amazon reportedly set to buy Souq

Amazon is set to acquire Souq, one of the Middle East’s leading online retailers, according to reports. Reuters published an article on Wednesday (22 March) saying that well-placed sources had informed the agency that Amazon has already agreed to the deal in principle. However, neither Amazon nor Souq have yet official confirmed – or commented on – the reports.

Souq was reportedly valued at around $1bn when it undertook its latest funding round last year, but a report on TechCrunch yesterday suggested that Amazon had paid considerably less than that.

Amazon has reportedly been looking to buy Souq- as a whole, or in part – for some time. The acquisition of Souq (assuming the reports are true) would give Amazon a significant presence in the Middle East.

 

Relevant Directory Listings

Listing image

INFORM GmbH

Agile Yard Management with SyncroTESS INFORM’s Agile Yard Management software, SyncroTESS, optimizes the handling of load units in post and parcel centers. Through the synchronized interaction between gate, yard, and logistics center, SyncroTESS enables an efficient, transparent and optimized yard management providing: Reduced gate times […]

Find out more

Other Directory Listings

News Archive

Advertisement

MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

P&P Poll

Loading

Which stories do you most like reading about on Post & Parcel?

Thank you for voting
You have already voted on this poll!
Please select an option!






Pin It on Pinterest

Share This