When Souq.com first started in 2005, it had five employees. Fast-forward 10 years and it was valued at $1 billion as it received the largest e-commerce funding in the region’s history.
E-commerce is booming – why sell now?
There’s no doubt that the sale of Souq.com to Amazon requires throwing a party, as it is a net-win to all parties involved. The liquidity that this has generated will allow further investment in other tech-startups, therefore passing the benefit on to other entrepreneurs and further developing the region.Yara al-Wazir