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Amazon.com in the Middle East |
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INTRODUCTION |
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| Amazon.com Inc. (Amazon) announced in March 2017 that it was going to enhance its presence in the Middle East by acquiring the largest online retail platform in the region, Souq.com (Souq), for an undisclosed amount. According to media sources, the value of the deal was touted to be US $650 million. Russ Grandinetti (Grandinetti), Amazon senior vice president, said in a statement, “Souq.com pioneered e-commerce in the Middle East, creating a great shopping experience for their customers …Together; we’ll work hard to provide the best possible service for millions of customers in the Middle East.” Ronaldo Mouchawar (Mouchawar), co-founder and CEO of Souq, called the acquisition “a profound accomplishment for us as we have always strived for the empowerment of our partners, our merchants, our team, local entrepreneurs and every person at SOUQ.” ..
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PayPal (9 USD)
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