Naspers and Jabbar Internet have exited Middle Eastern e-commerce company Souq, which raised money at a $1bn valuation just over a year ago.
E-commerce and cloud computing group Amazon has agreed to acquire United Arab Emirates-based online marketplace Souq.com for $650m, giving media and e-commerce firm Naspers an exit, the Financial Times reported yesterday.
Founded in 2005, Souq operates the largest online marketplace in the Middle East by customer size, linking to about 75,000 businesses and offering some 2 million consumer items for sale.
Amazon will get a foothold in the region through the purchase, giving it an ideal base in an area…
