Souq.com and the Battle for the Future of E-Commerce in the MENA Region
Case Code: BSTR551
Case Length: 16 Pages
Pub Date: 2018
Teaching Note: Available
Industry: E-commerce; Retail, Retail
Countries: Middle East, MENA
Themes: Managing Growth, Harvesting the Venture
Abstract Case Intro 1 Case Intro 2 Excerpts
In September 2016, Middle Eastern e-commerce company Souq.com (Souq) appointed Goldman Sachs Group Inc. (Goldman Sachs) to find a buyer for it. Souq was an English-Arabic language e-commerce platform, often described as the "Amazon of the Middle East". It had established itself as a leading player in the Middle East and North Africa (MENA) region and was looking for a buyer as Souq’s co-founder and CEO, Ronaldo Mouchawar (Mouchawar), wanted to take it to the next phase of growth in the region.
Global e-commerce giant Amazon.com, Inc. (Amazon) approached Souq with an acquisition offer in November 2016 in an effort to expand its reach in the MENA and to exploit the untapped e-commerce market potential. However, Amazon failed in its attempt due to a disagreement with Souq over the price....
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