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Daniel Cooper, 03.28.17 Amazon wants to be a one-stop shop for the entire world, but has struggled to get a foothold in the Middle East. After months of deliberations , the company has finally purchased Souq.com, the "Amazon of the Middle East." Russ Grandinetti, Amazon VP, says that the deal is a no-brainer, since both sites "share the same DNA," adding that the pair will now "work hard to provide the best possible service" in the region. The price hasn't been disclosed, but rumors from the back-end of 2016 claimed that Souq's founders were looking for a cool $1 billion. TechCrunch believes that the price was haggled down during negotiations, and thinks that the final fee was closer to $650 million. For that chunk of change, Amazon will now have a strong presence in Egypt, Saudi Arabia and the UAE with plenty of the knotty issues of doing business in the Middle East already fixed. For example, credit cards aren't ubiquitous in the area, so Souq developed a prepayment card where users top up in retail stores before ordering goods online. There's also no unified logistics platform in many locations, or addresses, so Souq had to build a network of local couriers who knows where people live. There's no word on if Amazon will look to rebrand Souq with its own logo, although it's not that likely given its normal procedure. After all, Zappos, Twitch, and IMDb aren't called Amazon Shoes, Amazon Game รองเท้าส้นสูง สวย ๆ Videos or Amazon Movie Database for nothing.
For the original version including any supplementary images or video, visit https://www.engadget.com/amp/2017/03/28/amazon-is-buying-the-amazon-of-the-middle-east/
He promised the issue would be a priority when talks begin. 'Nonsensical' On Wednesday Prime Minister Theresa May will invoke Article 50 of the Lisbon Treaty, which begins the negotiation process. During the Britain after Brexit debate the panellists, who included former Scottish first minister Alex Salmond and Labour Brexit spokesman Sir Keir Starmer, were asked what would happen if no deal was reached. Mr Davis said the government had spent the nine months since June's Brexit vote preparing a plan. He said it was not a scenario the government wanted to see, but added: "We have got a huge contingency plan, exercised across all of these issues, every department of government." Mr Salmond said the government's view that no deal is better than a bad deal was "nonsensical". But UKIP's Suzanne Evans criticised "hyperbole" about "crashing out" of the EU. Border controls among UKIP Brexit tests Mr Davis also said the UK would abide by its obligations when it comes to settling outstanding liabilities with the EU, but played down claims these could amount to 50bn. Former Lib Dem leader Nick Clegg said the EU was "simply going to ask us to settle the tab before we leave", and Mr Starmer said the UK had to honour its debts "otherwise no country is going to want to deal with us" in future trade negotiations. But a man in the audience compared the EU's demands with "the bully in the playground taking our lunch money". On Wednesday, the prime minister will send a letter to the president of the European Council telling him officially that the UK wants to leave.
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