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FINANCIAL NEWS
UAE’s Souq.com invests USD 275mn to spread operations
29 Feb 2016
(MENAFN) Souq.com rose a funding of more than USD 275mn that will help the firm’s future growth and support increasing ecommerce in the Middle East.
Moreover, Souq.com is the main online retail and marketplace platform in the Arab world, featuring more than 1mn products across 31 categories like fashion.
Additionally, the ecommerce site works both as a retail site and as a marketplace for third party sellers, while it attracts over 45mn visits per month.
The e-commerce market is increasing fast and is predicted to reach USD 20bn this year, while investors in this stage include New York-based Tiger Global Management.
More News
26 Apr 2026
A chance to win BD 100,000. the Jetour G700 and many other prizes BBK launches Marassi Galleria activation with daily cash prizes up to BD 1,000
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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