Souq vs Amazon — How a $580 Million Giant From Dubai Became an Amazon Branch | Gulf Empires

On March 28th, 2017, Amazon made a significant move in the Middle East by acquiring Souq.com for $580 million. This acquisition solidified Amazon's presence in the region, integrating Souq.com's extensive operations, which included 75 million monthly visitors and 8 million products, across 7 countries. The deal was a landmark event for ecommerce and online shopping in the United Arab Emirates, showcasing the growing potential of e commerce and online business in the Middle East.