Funding Received
$115 Million in 2 Rounds from 2 Investors
Most Recent Funding
$75 Million Venture on March 24, 2014
Founded:
2005
Headquarters:
Dubai
Description:
Souq.com is an e-commerce store in the Arab world, offering products such as consumer electronics, fashion products, and household goods.
Founders:
Ronaldo Mouchawar
Categories:
Auctions, Internet, Shopping, Online Shopping, E-Commerce
Website:
http://www.souq.com

Detailed Description

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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.

Current Team (3)

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Funding Rounds (2) - $75M

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Investments (1)

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Acquisitions (1)

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Investors (2)

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  • E22dde606df0ba1ec673cf9e4dd2f98d

    Naspers

    Naspers is a multinational media company that services the electronic and print media sectors.
  • Fecd123vncpyeuacmiye

    Tiger Global Management

    Tiger Global manages hedge funds and private equity funds by investing in local and global public...

Offices/Locations (6)

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  • Technology Center

    Bangalore,

    IND

  • Technology Center

    Amman,

    JOR

  • Kuwait Commercial office

    Kuwait City,

    KWT

  • Egypt Commercial Office

    Cairo,

    EGY

  • KSA Commercial Office

    Riyadh,

    SAU

  • Headquarters

    Dubai Internet city

    Dubai,

    ARE

Images (1)

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  • F12790348e6c8a83f4f20e9570ceb38a