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Case Details |
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Case Code: BSTR551
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| Case Length: 16 Pages |
| Period: 2009-2018 |
| Pub Date: 2018 |
| Teaching Note: Available |
| Price: Rs.400 |
| Organization : Souq.com |
Industry : e-commerce; Retail
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| Countries : Middle East; MENA |
| Themes: Managing Growth/ Harvesting the Venture
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Souq.com and the Battle for the Future of E-Commerce in the MENA Region |
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INTRODUCTION |
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In September 2016, Middle Eastern e-commerce company Souq.com (Souq) appointed Goldman Sachs Group Inc. (Goldman Sachs) to find a buyer for it. Souq was an English-Arabic language e-commerce platform, often described as the “Amazon of the Middle East”. It had established itself as a leading player in the Middle East and North Africa (MENA) region and was looking for a buyer as Souq’s co-founder and CEO, Ronaldo Mouchawar (Mouchawar), wanted to take it to the next phase of growth in the region.
Global e-commerce giant Amazon.com, Inc. (Amazon) approached Souq with an acquisition offer in November 2016 in an effort to expand its reach in the MENA and to exploit the untapped e-commerce market potential. However, Amazon failed in its attempt due to a disagreement with Souq over the price. ..
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