Amazon Acquires Middle Eastern Ecommerce Giant Souq

Amazon has confirmed that it has successfully acquired the Middle Eastern ecommerce site Souq is the largest ecommerce site in the Middle East, and sells a large range of products including electronics, household items and clothing. Sometimes referred to as “the Amazon of the Middle East”, Souq will now give Amazon a full infrastructure which will enable it to successfully serve the region soon. Amazon's Senior Vice President said that the acquisition would “provide the best possible service for millions of customers in the Middle East”, by adding Amazon resources to Souq's already popular platform. Meanwhile, Souq's CEO said that the company now plans to grow its “delivery capabilities and customer selection”. The Middle Eastern ecommerce market was worth an estimated 20 billion US dollars in 2016, and has a rapidly growing internet population.