Amazon’s Souq.com Acquires Logistics Market Startup Wing.ae
Amazon have been aggressive of their growth this 12 months, one among them being their acquisition of on-line market Souq.com to jump-start their enterprise within the Center East at a worth of $580 million. Now, Amazon and Souq are making one other acquisition to construct up the logistics that can underpin the operation’s progress.
This week has seen Souq purchase Wing.ae, a logistics startup that’s constructing a community for Amazon Prime fashion same-day and next-day deliveries for numerous ecommerce marketplaces (together with Souq.com).
The monetary particulars of the deal haven’t but been disclosed, though it’s identified that Souq have beforehand made an undisclosed strategic funding in Wing.ae and have been working carefully collectively for a while. Since Wing.ae was based in 2016 by Muzaffar Karabaev, it’s thought that Souq has been the one ever investor in keeping with Crunchbase.
About Souq.com
Souq.com is among the main on-line retail and market web sites within the United Arab Emirates and the broader Center East area. It has greater than 8.4 million merchandise in additional than 30 classes, together with style, electronics, well being and wonder, child and family items. Right now it attracts greater than 45 million visits monthly and has operations throughout the Center East together with Saudi Arabia, Egypt and the United Arab Emirates.
About Wing.ae
Wing.ae was based in 2016 by Muzaffar Karabaev and is an on-demand supply and courier market that gives an internet and cellular primarily based market service which connects prospects with a big community of contracted supply providers throughout the United Arab Emirates. It offers a variety of supply options together with same-day supply and numerous courier options in addition to monitoring options for deliveries and funds.
Remark
Ronaldo Mouchawar, SOUQ.com CEO & Co-Founder, feedback: “At SOUQ.com, our prospects will stay our key focus and we are going to proceed to ship an distinctive on-line purchasing expertise. Quick reliable supply is vital to this, and Wing.ae offers SOUQ.com prospects with extra comfort for his or her similar and subsequent day supply. With Amazon’s help, we’re placing all our efforts in offering an ever-improving purchasing expertise for purchasers within the Center East.”
“The UAE is a number one e-commerce and sensible hub within the area, and on this demanding enterprise we work to fill the logistics provide gaps to supply prospects the wonderful service they need as quick as doable,” says Muzaffar Karabaev, CEO and Co-Founding father of WING.ae. “With the help of SOUQ.com, Wing will speed up investments into our know-how, infrastructure and regional protection to offer progressive supply options and to make on-line looking for SOUQ.com prospects and retailers much more handy.”
