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General Information

Offices

People

Founder & CEO
CTO
Group CFO

Acquisitions

Sukar, 4/2012

Investments

Run2Sport 2/2012

Funding

TOTAL $40M
FUNDING TOTAL $40M
Private Equity, 2012
Naspers
Tiger Global Ltd
$40M
Private Equity, 3/2014
Naspers
$75M

Tags

Souq.com

Souq.com is the largest e-commerce site in the Arab world, featuring more than 400,000 products across categories such as consumer electronics, fashion, household goods, watches or perfumes. Today Souq.com attracts over 23 million visits per month and is fast growing as more consumers shop online in the Arab world.

Often tagged as the “Amazon of the Middle East”, Souq.com operates both as a retail site and as a marketplace for third party sellers. It offers a convenient and safe online shopping experience with online payments, option to pay cash on delivery and free returns.

Established in 2005, Souq.com pioneered online shopping in the region as an auction site linked to the Arab internet portal Maktoob. When Yahoo! acquired Maktoob in August 2009, Souq.com was not included in the sale and was spun off as part of Jabbar Internet Group. The site then switched to a marketplace with a fixed price model in early 2011, and then launched its retail division late 2011.

Headquartered in Dubai, UAE, Souq.com caters to the needs of local markets with commercial offices in Egypt, Kingdom of Saudi Arabia and Kuwait, and a technical and development center in Jordan.

Recent Milestones

  • Dollar
    Souq.com received $75M in Private Equity funding. (3/24/14)
    Posted 3/27/14 at 8:00am via wsj.com
  • Check
    Souq.com — South African media firm Naspers invest in Souq.com (10/29/12)
    Posted 6/14/13 at 8:58am via arabianbusiness.com
  • Check
    Souq.com — Souq.com launches Souq Fashion (10/15/12)
    Posted 10/28/12 at 10:22pm via wamda.com
  • Handshake
    Souq.com acquired Sukar. (4/29/12)
    Posted 10/28/12 at 10:08pm via wamda.com
  • Dollar
    Souq.com invested in Run2Sport. (2/7/12)
    Posted 10/28/12 at 10:41pm via arabnet.me
  • Dollar
    Souq.com received $40M in Private Equity funding. (1/1/12)
    Posted 3/23/14 at 11:15pm via wamda.com
  • Check
    Souq.com — Souq.com announces move into retail (10/1/11)
    Posted 10/28/12 at 10:22pm via thenational.ae
  • Check
    Souq.com — Souq.com launches operations in Kuwait (5/18/11)
    Posted 10/28/12 at 10:22pm
  • Check
    Souq.com — Souq.com ends the auction model and transitions to fixed price only transactions (1/1/11)
    Posted 10/28/12 at 10:22pm
  • Check
    Souq.com — Souq.com launches operations in Egypt (4/12/10)
    Posted 10/28/12 at 10:22pm
  • Check
    Souq.com — Yahoo! Acquires Arab Internet Portal Maktoob, Souq.com not included in the sale and spun off as part of Jabbar Internet Group (8/25/09)
    Posted 10/28/12 at 10:22pm via techcrunch.com
  • Check
    Souq.com — Maktoob founder launches $20 million tech firm (8/25/09)
    Posted 10/28/12 at 10:22pm via jabbar.com
  • Check
    Souq.com — Souq.com launches in the Kingdom of Saudi Arabia (10/3/07)
    Posted 10/28/12 at 10:22pm via jabbar.com
  • Check
    Souq.com added Ronaldo Mouchawar as Founder & CEO.
    Posted 10/28/12 at 10:25pm
  • Check
    Souq.com added Asif Keshodia as Group CFO.
    Posted 12/20/13 at 11:01am
  • Check
    Souq.com added Wisam Daoud as CTO.
    Posted 3/24/14 at 8:24am

Videos

Above:

CNN interview of Ronaldo Mouchawar, CEO Souq.com

Added: 3/28/14

Screenshots

Souq.com screenshot
Above: Souq.com Homepage
Uploaded: 10/30/12

Sources

  1. Why Middle East E-Commerce Site Souq.com Acquired Sister Site Sukar.com (wamda.com) [edit]
  2. Arabnet - Run2Sport secures investment (arabnet.me) [edit]
  3. Souq raises an additional $75m from Nasper's (wamda.com) [edit]
  4. Souq.com, Dubai-Based E-Commerce Site, Raises $75 Million (blogs.wsj.com) [edit]
  5. Wamda - Souq Fashion Launches to Boost High-End Online Retail in the Arab World (wamda.com) [edit]
    The National - Souq.com refines its business plan (thenational.ae) [edit]
    Citation Needed [add]
    Citation Needed [add]
    Citation Needed [add]
    Jabbar press release (jabbar.com) [edit]
    Techcrunch - Yahoo! acquires Arab Internet Portal Maktoob (techcrunch.com) [edit]
    Jabbar press release (jabbar.com) [edit]
    UAE’s Souq.com confirms Naspers investment (arabianbusiness.com) [edit]
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Last Edited 3/30/14

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