Amazon plans $1 billion push for Middle East dominance

Amazon is buying the 'Amazon of the Middle East', Souq.com for $1 billion.

@anthony256
Published Sat, Nov 26 2016 8:33 PM CST   |   Updated Tue, Nov 3 2020 11:57 AM CST

Amazon is looking to extend its retail dominance into the Middle East with the rumors that it will be acquiring Souq.com, which some call the Amazon of the Middle East.

Amazon plans $1 billion push for Middle East dominance | TweakTown.com

Bloomberg is reporting that Amazon will be making the $1 billion deal that would give it a large presence in the Middle East, in countries like Egypt, Saudi Arabia, and the UAE. Souq has been doing good things in the Middle East, overcoming issues we overlook in the US and around the world, like having to develop a new payment platform for a part of the world where credit cards aren't everywhere.

This means people can shop for products on Souq with prepaid cards sold at brick-and-mortar retail stores, topping them up when they need to. The other issue that needs to be considered is logistics, which is something that Amazon knows a little about - so I guess that means we can expect drones flying around in a country that doesn't have tight laws pressed on them like the FAA do in the US.

NEWS SOURCE:engadget.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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