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Amazon buys Middle East ecommerce leader Souq.com

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Amazon announced the purchase of Middle Eastern ecommerce leader Souq.com this week and is looking to enable its same delivery principles within the business.

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,” he 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,” 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.”

Although still subject to closing conditions, the deal is expected to complete later this year.

Image credit: Amazon