SEATTLE--(BUSINESS WIRE)--Mar. 28, 2017--
Amazon (Nasdaq:AMZN) today announced that it has reached an agreement to
acquire SOUQ.com, an e-commerce leader in the Middle East. Joining the
Amazon family will enable SOUQ.com to continue growing while working
with Amazon to bring even more products and offerings to customers
"Amazon and SOUQ.com share the same DNA – we’re both driven by
customers, invention, and long-term thinking,” said Russ Grandinetti,
Amazon Senior Vice President, International Consumer. "SOUQ.com
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.
And together, we’ll work hard to provide the best possible service for
millions of customers in the Middle East."
"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," said SOUQ.com CEO and
Co-Founder Ronaldo Mouchawar. "By becoming part of the Amazon family,
we'll be able to vastly expand our delivery capabilities and customer
selection much faster, as well as continue Amazon's great track record
of empowering sellers."
Subject to closing conditions, the acquisition is expected to close in
Amazon is guided by four principles: customer obsession rather than
competitor focus, passion for invention, commitment to operational
excellence, and long-term thinking. Customer reviews, 1-Click shopping,
personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle
Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa
are some of the products and services pioneered by Amazon. For more
information, visit www.amazon.com/about.
SOUQ.com is the largest online retail and marketplace platform in the
Arab world, featuring more than 8.4 million products across 31
categories such as consumer electronics, fashion, health and beauty,
household goods, and baby. Today, SOUQ.com attracts over 45 million
visits per month, with localized operations in the KSA, UAE and Egypt.
SOUQ.com offers a convenient and safe online shopping experience with
secure online payments, option to pay cash on delivery and free returns.
For more information, visit www.Souq.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170328005141/en/
Source: Amazon.com, Inc.
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