Souq (company)

Souq.com (Arabic: سوق.كوم‎, meaning "market") was an e-commerce platform headquartered in Dubai, United Arab Emirates. It operated as an online marketplace, allowing individuals and businesses to buy and sell a wide variety of products, including electronics, fashion, home goods, and groceries.

Founded in 2005 by Ronaldo Mouchawar and Samih Toukan as an online auction site linked to the Arab internet portal Maktoob, Souq quickly evolved into a general e-commerce marketplace. It expanded its operations across the Middle East, including Saudi Arabia, Egypt, and Kuwait.

Souq distinguished itself through its local focus, catering to the specific needs and preferences of consumers in the region. It offered Arabic language support, local payment options, and tailored product selections.

In March 2017, Amazon acquired Souq.com for $580 million. Following the acquisition, Amazon gradually integrated Souq's operations into its own platform. In May 2019, Amazon launched Amazon.ae, effectively replacing Souq.com in the United Arab Emirates. Subsequent integrations followed in other regions, such as Egypt, where Souq.com was eventually rebranded as Amazon.eg.

The acquisition of Souq.com by Amazon marked a significant milestone in the development of e-commerce in the Middle East, representing Amazon's commitment to expanding its global reach and adapting to local market dynamics. While the Souq brand is largely discontinued, its legacy as a pioneering e-commerce platform in the region remains.