Souq.com

Souq.com
Type of site
 Private
Founded 2005 (2005)
Headquarters Dubai, UAE
Area served Middle East
Founder(s) Ronaldo Mouchawar
Industry Internet
Services E-commerce
(Online shopping)
Employees 2500+
Website www.souq.com
Alexa rank Increase 433 (February 2016)[1]

Souq.com is an English-Arabic language e-commerce platform, often described as the Amazon of the Middle East.[2] It is the largest e-commerce platform in the Arab world.[3] Souq.com attracts over 24 million unique visits per month and is fast growing as more consumers shop online in the Arab world.[3] The website was founded by Ronaldo Mouchawar in 2005 as an auction site linked to internet portal Maktoob.[4] In 2011 Souq.com changed its model to an online shopping site similar to Amazon with a marketplace and retail items for sale on its platform. As of 2014, Souq.com had raised $150 million, the largest amount raised by any internet-based business in the Middle East.[5] The company is backed by Tiger Global Management.[6]

The site currently delivers to the United Arab Emirates, Saudi Arabia, Kuwait, Egypt, Bahrain, Oman, and Qatar. It has semi-automated modern fulfillment centers in the United Arab Emirates, Saudi Arabia, Kuwait, and Egypt, measuring a total of 35,000 square meters. The company currently employs around 2,500 employees in engineering, retail, customer support, fulfillment and last mile delivery sections .[7]

References

  1. ↑ "Souq site info Site Info". Alexa Internet. Retrieved 2016-02-10.
  2. ↑ Montini, Laura (8 June 2015). "Meet Souq, the Amazon of the Middle East". Inc.com. Retrieved 21 July 2016.
  3. 1 2 "About us | Souq.com". uae.souq.com. Retrieved 2016-02-11.
  4. ↑ Attwood, Ed (5 April 2014). "Ronaldo Mouchawar: How I created Souq.com". ArabianBusiness.com. Retrieved 21 July 2016.
  5. ↑ Sambidge, Andy (24 March 2014). "Dubai's Souq.com secures $75m funding boost". ArabianBusiness.com. Retrieved 21 July 2016.
  6. ↑ Nair, Dinesh (14 April 2015). "Tiger-Backed Souq.com Said Worth $1 Billion in Fundraising". Bloomberg. Retrieved 25 October 2015.
  7. ↑ Jones, Rory (24 March 2014). "Souq.com, Dubai-Based E-Commerce Site, Raises $75 Million". Wall Street Journal Blogs. Retrieved 25 October 2015.
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