Amazon Today confirmed that it acquired Souq.com, an e-commerce marketplace serving The Middle East based out of Dubai, which was commonly described as “the Amazon of the Middle East.” Sources revealed that it was valued at around $650 million.
Another rival site Noon.com — was also interested in the company. sources Confirm that the deal had already been done between Amazon and Souq.
With this move Amazon has got a brand new marketplace to target with approx 50 million users in several countries in The UAE .
News Source: Amazon confirms acquisition of Souq, marking its move into the Middle East
