Amazon to acquire Souq, a Middle East clone once valued at $1B, for $650M

 Amazon continues its march across the globe, and one of its newest targets is the Middle East. According to multiple reports that we have confirmed with our own sources, the e-commerce giant has acquired Souq, often described as the Amazon of the Arab world and the region’s biggest e-commerce player, for a price of $650 million, to spearhead its Middle East business. “The ink… Read More