USA based giant E-commerce organisation Amazon made its grand entry in UAE by acquiring biggest online retailer in Middle East ‘Souq.com’.
Based on understanding the joint statement, the agreement brings Amazon into a fast-growing market as it expands into an extensive variety of services.
The deal’s particular value was not reported, but rather as per investigators it is evaluated anyplace between 650 million USD to one billion USD.
Souq.com Chief Executive and Co-author Ronaldo Mouchawar called the deal “a critical next step in growing e-commerce presence on behalf of customers across the region.”
Souq.com, situated in Dubai is the biggest web based business platform in the Arab world offering more than 400,000 items, for example, fashion items, electronics, and family unit products.
