Everything You Want to Know About Acquisition of Souq.Com by Amazon

Users of Souq (a local e-commerce platform) can now log in using with their Amazon authorizations.

It is reported that Amazon has acquired Souq.com by paying between $650 million and $750 million. The site was rumored to be worth $1 billion in the late 2016. After the acquisition, Amazon Inc. introduced Souq.com to the Arab countries on 28th March 2017 and it is said to be the biggest e-commerce site introduced there. The head-quarter of this firm is in Dubai, United Arab Emirates. As for now, about 3000 employees are working in this company.

  • com has also announced to provide a certain rebate on the traffic in Middle East and North Africa website visits per month which is mainly e-commerce based. These events are certainly proved to be an exciting time for the e-commerce industry of this province. Amazon provides the customers with the option of selecting a diverse range of products in convenient rates, improvement in delivery time and a friendly customer service- stated the CEO and co-founder of Souq.com, Ronaldo Mouchawar during the press meet. If the company tried to improve on their own, they would have to undergo a lot of trial and error processes.
  • Amazon has mainly planned to use the Souq.com pay for the online payment access due to the popularity of it in this area. The availability of global resources and better technology assets combined with the regional expertise will make us capable to provide a better service to our values customers.
  • The organizations are moving their concentration to include new products and features to the platform. The global consumers of Amazon also noted that both the companies are planning to combine the capabilities of Souq.com and Amazon. Intelligent planning and correct mindset is the key to become a successful freelancer. Souq.com is known for providing the feasibility of the e-commerce channel as well as best practices by optimizing the rate of drive conversion.
  • The firm has extended its branches to the nearby Middle Eastern countries like Bahrain, Oman, Kuwait and Egypt. Due to the acquisition, Amazon has now access to Souq.com’s 75000 merchants and around two million products belonging to 30 different categories. The companies specified in a joint declaration that they have achieved the “initial step of combination” by permitting the customers to log on to Souq.com by their Amazon user id and password.
  • Amazon is very keen on providing the orders within the deadline and by this saves a lot of trouble of going through trial and error method. Amazon has mainly decided to operate in Souq.com’s Pay due to the popularity of that particular gateway in that region. Amazon has successfully acquired their closest counterpart, implementing on accessibility, reasonable process, diverse variety of products, and gaining the advantage as well as an active strategy which provides them inventory, enables positive customer service and also enhances business boundaries.

The acquisition by Amazon provides the new company as a sales channel to promote their own commodity like Kindle Oasis, Amazon Echo Dot, and Amazon Tap. Customers will likely upset publication by democratizing composition in the region. Amazon is eventually investing in voice-enabled search, as connecting their customers and trades ahead of time, the customer’s contributions of Amazon’s voice are capable to reserve a Careem, letting clients to log on to souq.com using their Amazon authorizations. For any type of complaints or support regarding online ordering, order tracking, returns or refund, you can contact their customer support team at Souq.com customer support telephone number. If any one is interested in doing work with this company, then they can contact their careers department at Souq.com head office address.

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