Amazon’s Souq.com Acquires Logistics Marketplace Startup Wing.ae

Amazon has been aggressive in its expansion this year, among them being their acquisition of online marketplace Souq.com to jump-start their service in the Middle East at a price of $580 million. Now, Amazon and Souq are making another acquisition to develop the logistics that will underpin the operation’s growth.

Today has seen Souq obtain Wing.ae, a logistics startup that is constructing a network for Amazon Prime design same-day and next-day deliveries for different e-commerce marketplaces (including Souq.com).

The financial details of the offer have not yet been revealed, although it is known that Souq has actually formerly made an undisclosed strategic financial investment in Wing.ae and have been working closely together for some time. Since Wing.ae was founded in 2016 by Muzaffar Karabaev, it is thought that Souq has been the only ever investor according to Crunchbase.

About Souq.com

Souq.com is one of the leading online retail and market sites in the United Arab Emirates and the broader Middle East region. It has more than 8.4 million items in more than 30 classifications, consisting of fashion, electronics, health and appeal, infant, and home goods. Today it draws in more than 45 million sees each month and has operations throughout the Middle East including Saudi Arabia, Egypt, and the United Arab Emirates.

About Wing.ae

Wing.ae was founded in 2016 by Muzaffar Karabaev and is an on-demand shipment and courier market that offers web and mobile-based marketplace service which links clients with a big network of contracted delivery services throughout the United Arab Emirates. It offers a wide variety of delivery options including same-day shipment and numerous carrier solutions as well as tracking services for deliveries and payments.

Comment

Ronaldo Mouchawar, SOUQ.com CEO & & Co-Founder, comments: “At SOUQ.com, our consumers will stay our key focus and we will continue to provide an extraordinary online shopping experience. Quick dependable shipment is key to this, and Wing.ae provides SOUQ.com consumers with more convenience for their same and next day delivery. With Amazon’s assistance, we are putting all our efforts into providing an ever-improving shopping experience for consumers in the Middle East.”

“The UAE is a leading e-commerce and smart hub in the region, and in this requiring company we work to fill the logistics supply gaps to use consumers the excellent service they desire as quickly as possible,” states Muzaffar Karabaev, CEO and Co-Founder of WING.ae. “With the assistance of SOUQ.com, Wing will accelerate financial investments into our technology, facilities, and local coverage to offer innovative delivery services and to make online searching for SOUQ.com customers and merchants a lot more convenient.”