What happened to Souq com?
On March 28, 2017, Amazon.com Inc. acquired Souq.com for $580 million as a subsidiary. On May 1, 2019, Souq.com UAE became known as Amazon.ae, while on June 17, 2020, Souq.com KSA became known as Amazon.sa. The Egyptian site as well turned into Amazon.eg on September 1, 2021.
Is Amazon and Souq same?
Amazon acquired Dubai-based souq.com in a deal estimated at around $580m in March 2017. All visitors to the souq website in Saudi Arabia are now redirected to the new Amazon site.
How did Amazon buy Souq?
Amazon launched a new Middle East marketplace on Tuesday, two years after buying the Dubai-based e-commerce company Souq.com for $580 million. With the launch, Amazon said Souq.com will be rebranded to Amazon.ae. The Souq.com URL now automatically takes you to Amazon.ae.