Amazon to acquire Middle East online commerce site SOUQ.com

The news has been abuzz for a couple of days in the Middle Eastern region, but it has now been made official, press release and all: Amazon has reached an agreement to acquire SOUQ.com . For those of you who don’t live in the Middle East and haven’t heard of SOUQ (which means “market” in Arabic), you can think of it as India’s Flipkart maybe or well, Amazon, but serving a few local countries in the region: UAE, Egypt, Saudi Arabia, Kuwait, and also shipping to Bahrain, Oman, and Qatar.

Source: Amazon to acquire Middle East online commerce site SOUQ.com