Dubai's Emaar Malls rivals Amazon with $800m Souq.com bid


Dubai's Emaar Malls rivals Amazon with $800m Souq.com bid
  1. Dubai's Emaar Malls rivals Amazon with $800m Souq.com bid
    yourmiddleeast.com
    "Emaar Malls has submitted a bid of $800 million (736 million euros) for Souq.com in line with the strategy to align e-commerce with physical shopping," Emaar Malls said in a statement.Amazon, which walked away from talks with Souq.com earlier this year, had offered up to $650 million (600 million euros) for the company, according to…
    United Arab Emirates

"Emaar Malls has submitted a bid of $800 million (736 million euros) for Souq.com in line with the strategy to align e-commerce with physical shopping," Emaar Malls said in a statement.

Amazon, which walked away from talks with Souq.com earlier this year, had offered up to $650 million (600 million euros) for the company, according to Bloomberg.

As of Monday Souq.com had not publicly responded to Emaar's offer.

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Founded in 2005, the e-commerce site emerged as the highest-valued internet company in the region last year after a funding round raised more than $275 million (250 million euros).

Investors in the site include Standard…

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