Souq - About the company
Souq is an acquired company based in Dubai (United Arab Emirates), founded in 2005. It operates as an Online retailer of various products including electronics, fashion, and groceries. Souq has raised $350M in funding from investors like Naspers, Tiger Global Management and IFC, with last known valuation of $1B. The company has 288 active competitors, including 4 funded and 6 that have exited. Its top competitors include companies like Amazon, noon and Wadi.
Sectors and market segments that Souq operate in
Souq serves in the Retail market segments.The primary business model of Souq is:Company Details
Online retailer of various products including electronics, fashion, and groceries. It provides a platform for purchasing diverse goods, from electronics and fashion apparel to groceries and home essentials. The platform offers a selection of products, catering to a broad customer base with varied needs. It facilitates the sale of goods through its online marketplace.
- Website
- souq.com
- Social
- Email ID
- *****@souq.com
Key Metrics
Founded Year
2005
Location
Dubai, United Arab Emirates
Stage
Acquired
Total Funding
$350M in 3 rounds
Latest Funding Round
Last Known Valuation
$1B as on Feb 29, 2016
Ranked
4th among 288 active competitors
Employee Count
1,189 as on Sep 30, 2026
Investment & Acquisitions
Exit Details
Acquired by Amazon (Mar 22, 2017)
Souq's acquisition details
Click here to take a look at Souq's acquisition in detail
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Souq's funding and investors
Souq has raised a total funding of $350M over 3 rounds. Its first funding round was on Oct 29, 2012. Its latest funding round was a Series D round on Feb 29, 2016 for $275M. 5 investors participated in its latest round. Souq has 17 institutional investors.
Here is the list of recent funding rounds of Souq:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Feb 29, 2016 | $275M | Series D | $1B | - | ||
Mar 24, 2014 | $75M | Series C | - | - | - | |
Oct 29, 2012 | Undisclosed | Series B | - | - |
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Souq's founders and board of directors
Founder? Claim ProfileSouq's employee count trend
Souq has 1,189 employees as of Sep 26. Here is Souq's employee count trend over the years:
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Souq's Competitors and alternates
Top competitors of Souq include Amazon, noon and Wadi. Here is the list of Top 10 competitors of Souq, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  Amazon 1994, Seattle (United States), Public | Online marketplace and cloud computing provider | $8M | 86/100 | |
2nd | noon 2016, Dubai (United Arab Emirates), Series A | Online marketplace offering multi-category consumer products | - | 65/100 | |
3rd | Wadi 2015, Dubai (United Arab Emirates), Acquired | Online horizontal marketplace for middle eastern countries. | $97M | 53/100 | |
4th | Souq 2005, Dubai (United Arab Emirates), Acquired | Online retailer of various products including electronics, fashion, and groceries | $350M | 52/100 | |
5th |  Yallamarket 2021, Dubai (United Arab Emirates), Seed | Online platform offering multi-category grocery products | $10.5M | 49/100 | |
6th |  Ourshopee 2014, Dubai (United Arab Emirates), Unfunded | Online marketplace offering multi-category products | - | - | 44/100 |
7th |  Jazp.com 2018, Dubai (United Arab Emirates), Unfunded | Online marketplace offering multi-category products | - | - | 43/100 |
8th |  DODuae 2015, Sharjah (United Arab Emirates), Unfunded | Online retailer of multi-category products | - | - | 43/100 |
9th | Paytm Mall 2017, Bengaluru (India), Series E | Platform offering multi-category consumer products | $817M | 42/100 | |
10th |  Jomla 2017, Dubai (United Arab Emirates), Unfunded | Online retailer offering multi category products | - | - | 41/100 |
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Souq's Investments and acquisitions
Souq has made 4 investments in companies including Jusoor Labs and InstaShop. Souq has also acquired 2 companies including Wing Delivery and Sukar.Here is the list of investments & acquisitions:
Filter this list
Filter this listDate of Investment/Acquisition | Type | Company Name | Founded Year | Location |
|---|---|---|---|---|
Sep 24, 2024 | Investments | 2021 | AI Salt (Jordan) | |
Sep 06, 2017 | Acquisition | 2016 | Dubai (United Arab Emirates) | |
Oct 31, 2016 | Investments | 2015 | Dubai (United Arab Emirates) |
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Reports related to Souq
Here is the latest report on Souq's sector:
News related to Souq
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Oyo Strengthens Its Global Leadership Bench; Announces New Appointments And ElevationsOYO•Jan 28, 2021•OYO, Souq, Amazon
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Amazon.sa launches in Saudi replacing SouqMENAbytes•Jun 17, 2020•https://www.amazon.sa/, Souq, https://www.amazon.ae/
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Former Souq.com owner invests in B2B e-commerce platform ArzoooVCCircle•Jun 13, 2019•Arzooo, Souq, Amazon, Jabbar
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