Souq.com, one of the biggest online retail and marketplace site in Middle East, will benefit immensely from its acquisition by e-commerce major Amazon.com, said the company's CEO and Co-founder, Ronaldo Mouchawar.
Amazon.com and Souq.com in a joint statement today said that the former has agreed to acquire the Middle Eastern online retailer.
"Joining the Amazon family will enable us to drive further growth, benefit from their technological investment, offer an even wider product selection through worldwide sourcing, deliver an enhanced customer service experience, as well as continue Amazon's great track record of empowering sellers locally and globally," Mouchawar said in a statement.
According to Mouchawar, the acquisition is a milestone for the online shopping space in the (Middle East) region."As we take this next step in the journey with Amazon, our customers will remain our key focus and we will continue to deliver a seamless online shopping experience. Over time, I'm excited for what this acquisition will mean for every customer across the region," he said further.