Music

Jeff Bezoz, Souq.com, and powerhouse markets of the east.

[ October 9, 2018 by madmin 0 Comments ]

Amazon, Souq.com, and powerhouse markets of the east.

Jeff Bezos recently became the world’s wealthiest man and the Amazon CEO does not seem to be faltering. Amazon has become a power house by expanding their business model and have established themselves to be a formidable company on the stock exchange. The company has been building foundation in other parts of the world by investing heavily and building from the ground up. However, an unorthodox exchange happened and Amazon has set foot in the United Arab Emirates

With the recent acquisition of Souq, Amazon has had a first in terms of establishing itself in the middle east. With the company focusing on building from the ground up in other regions of the world, the direction of the company can be seen as a positive for the MENA region.

Souq started off as an an online retail company with heavy investors such as Baillie Gifford, IFC venture capital group, and MENA Venture Investments. Souq first legitimized itself with a solid payment and fulfillment infrastructure, and now has thousands of vendors using the website for its services. With Amazon now being its parent company, the future of the company seems to be secure and consistent.

However, competition arises from the east with company’s like Ali Baba in China, and even Indian ecommerce companies like Snapdeal and Flipcart. The two latter companies were in talks of a merger, but that deal fell through. Meanwhile, Amazon invests heavily to establish itself in India. It only remains to be seen what Amazon brings to the table when the product of the investments is unveiled.

Always the question! Make sure to check out the schedule (especially the FullSTK stage as that is full of technical content) and have a plan for your time. I might be biased, since I’ve hosted and spoken on FullSTK over the past few years. Make sure to take breaks, though. Expo can be busy, with a fast pace. Look for places in the schedule where you can walk away and focus on chatting to folks, just to review ideas.

As for Ali Baba, their 2016 single’s day sale unloaded a whopping $17.8 billion worth of merchandise in a span of 24 hours. The event was legitimized in a western sense when Idols such as David and Victoria Beckham rang in the day.