Amazon closes Souq, the company it bought for $580 million, to launch a new Middle East marketplace

  • 📰 CNBC
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 72%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Amazon just launched a new Middle East marketplace, shutting down Souq, the e-commerce site it bought for $580 million in 2017.

Amazon's representative wasn't immediately available for comment.

The change gives Amazon's Middle East service a more unified look and brand in the region. Until now, Amazon's only presence in the region was through Souq, which it acquired in 2017. It also comes with the same seller back-end system used in the U.S., and access to Fulfillment by Amazon , the company's storage and shipping service, according to multiple sellers.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Can I order bombs and guns while I'm on holidays in Palestine? Will the Prime cover my delivery?

Canada Canada Latest News, Canada Canada Headlines