Amazon acquires Middle East’s Souq.com for $650Mn
- Amazon acquires Middle Eastern eCom site Souq.com for $650Mn.
- This gives Amazon access to the region’s largest e-commerce player with 75,000 businesses and over 1 million products.
- They also get an existing fulfillment operation and an online payments gateway.
Now, in Australia, there isn’t a ready to go business that could be acquired, and nor is acquisition the preferred strategy for Amazon. With Amazon now shopping for warehouses, it makes more sense for Amazon to start fresh and bring in their global expertise to Australia.