Flipkart, Amazon drop $1 bn Souq acquisition bid: Report

Snapdeal_flipkat_amazonUS-based Amazon.com Inc and Indian online retailer Flipkart have dropped a bid to acquire Middle East-based horizontal e-commerce venture Souq.com due to a disagreement over price, Bloomberg reported on Wednesday. Souq.com has now reached out to Dubai-based mall company Majid Al Futtaim, the report said, citing two people aware of the development. Amazon had started […]

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UAE’s e-com venture Souq raises record $275M from Tiger Global, Naspers & others

Naspers_feMiddle East-based horizontal e-com venture Souq.com has completed a funding round worth more than $275 million in what is termed as the largest financing of an e-commerce business in the Middle East region. Investors in this round include New York-based Tiger Global Management and South Africa’s Naspers Ltd, both of which had invested in Souq.com […]

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