Post by icemandios on Mar 22, 2017 17:29:15 GMT
Amazon agrees to full acquisition of Souq.com, The National reports Amazon has agreed to a full acquisition of online retailer Souq.com, The National reports. Amazon was previously rumored to be discussing a bid for Souq.com or a stake in the Dubai-based online retailer, but fell apart in January over the valuation, the report notes. Souq.com was valued at $1B in a $275M funding round last February.
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thefly.com/landingPageNews.php?id=2523766
Amazon.com would get 'strong' brand in Souq.com, says Baird Baird analyst Colin Sebastian believes that should media reports prove correct and Amazon acquire Souq.com, the company obtain a "strong" local brand and early leadership position in the Middle East e-commerce market. Amazon is clearly interested in tapping into growth in emerging markets, Sebastian tells investors in a research note. He points out that the online commerce market in Middle East/Africa may already be greater than $10B per year. The analyst keeps an Outperform rating on Amazon with an $850 price target.
Read more at:
thefly.com/landingPageNews.php?id=2523767
Read more at:
thefly.com/landingPageNews.php?id=2523766
Amazon.com would get 'strong' brand in Souq.com, says Baird Baird analyst Colin Sebastian believes that should media reports prove correct and Amazon acquire Souq.com, the company obtain a "strong" local brand and early leadership position in the Middle East e-commerce market. Amazon is clearly interested in tapping into growth in emerging markets, Sebastian tells investors in a research note. He points out that the online commerce market in Middle East/Africa may already be greater than $10B per year. The analyst keeps an Outperform rating on Amazon with an $850 price target.
Read more at:
thefly.com/landingPageNews.php?id=2523767