Souq is an e-commerce site headquartered in the United Arab Emirates Souq is an e-commerce site based in Dubai, founded in 2006 by Ronaldo Mouchawar, who worked at Boston Engineering in the U.S. Souq has built its own logistics system, QExpress, and payment system, PayFort, and has its own brand of consumer electronics products such as tablets.
Amazon is currently in talks with Souq to buy the company for $1 billion. 1 billion to buy the company to expand Amazon's shopping market in Dubai, Souq has 6 million users in the Middle East, with more than 10 million unique visits to its website each month. If Amazon's acquisition of Souq goes through, it will mean another area of the planet will enter Amazon's territory, and future contributions to e-commerce revenue growth will come mainly from the Middle East, India and other regions.
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