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Amazon launches new Middle East marketplace, and rebrands Souq, the company it bought for $580 million in 2017

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Amazon said that it is rebranding Souq, the e-commerce company it bought for $580 million in 2017, to Amazon.ae.

Editor's Note: Updates have been made throughout this story to correctly report that Amazon is not shutting down Souq. Rather, the brand is still available in Saudi Arabia and Egypt.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. But Souq remains available in Saudi Arabia and Egypt.posted on the new Middle East marketplace.

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