Mar 28, 2017

Amazon to buy Middle East online retailer Souq

"Amazon and Souq share the same DNA. We're driven by customers, invention and long-term thinking," said Amazon senior vice-president Russ Grandinetti. Souq was launched in 2005 and offers more than 8.4 million products. "Mr Grandinetti continued:" pioneered e-commerce in the Middle East, creating a great shopping experience for their customers. "We're looking forward to both learning from and supporting them with Amazon technology and global resources." Souq chief executive and co-founder Ronaldo Mouchawar said: "We are guided by many of the same principles as Amazon, and this acquisition is a critical next step in growing our e-commerce presence on behalf of customers across the region."

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