2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Carrefour UAE
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Gizmo Dubai
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souq
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Dubimall
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Detailed explanation-1: -Amazon announced on Tuesday that it had agreed to acquire the Dubai, United Arab Emirates-based online retailer Souq.com . The acquisition represents Amazon’s first move into serving the Middle East, which is home to over 200 million people.
Detailed explanation-2: -Following is the excerpt from the report highlighting the price. ‘Additionally, in March 2017, we signed an agreement to acquire Souq Group Ltd., an e-commerce company, for $580 million in cash, subject to adjustments.
Detailed explanation-3: -Amazon launched a new Middle East marketplace on Tuesday, two years after buying the Dubai-based e-commerce company Souq.com for $580 million.
Detailed explanation-4: -Ronaldo Mouchawar (Arabic: ), is a Syrian entrepreneur. In 2005, he co-founded Souq.com, the largest e-commerce retailer in the Arab World, making the e-commerce retailer the region’s first unicorn. When Amazon acquired Souq in 2017, Mouchewar became vice president of Amazon Middle East and North Africa.
Detailed explanation-5: -Souq.com was the largest e-commerce platform in the Arab world. The company launched in 2005 in Dubai, United Arab Emirates. On March 28, 2017, Amazon.com Inc. acquired Souq.com for $580 million as a subsidiary.