History of Souq
Souq.com was founded in 2005 by Ronaldo Mouchawar, Samer Jaber, and Ali Kabbani, originally as an online auction platform. It began as a solution to fill the gap in the Middle East’s e-commerce market, aiming to offer a wide range of products like electronics, clothing, and household goods. Over time, the platform evolved from an auction website to a full-fledged online marketplace, focusing on providing a more user-friendly experience and a diverse product selection. Souq.com became the region’s largest e-commerce platform and earned recognition as the 'Amazon of the Arab World.'
In 2017, Souq.com was acquired by Amazon for $580 million, marking a significant milestone in the development of e-commerce in the Middle East. This acquisition allowed Amazon to tap into the growing regional market, gaining access to Souq's established infrastructure, customer base, and local knowledge. Under Amazon's ownership, Souq.com was rebranded as Amazon.ae in the UAE and Amazon.sa in Saudi Arabia, continuing to serve customers across the region while incorporating Amazon's global offerings and technological advancements.
Despite the transition to Amazon’s branding, Souq’s legacy as the leading e-commerce platform in the Arab world remains significant. It played a crucial role in shaping online shopping in the region and contributed to the widespread adoption of e-commerce. Souq’s innovative approach to logistics, payment options, and customer service helped build trust in online shopping and set a foundation for Amazon's success in the Middle East.