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Amazon's Acquisition of Dubai Based E-Commerce Company Souq.com

   

In this episode of the Dave & Dave Show, Dave Katz, Senior Audit Manager in EisnerAmper’s Technology and Life Sciences Practice, discusses recent mergers and acquisitions in e-commerce including Amazon's recent acquisition of Souq, a Dubai based e-commerce company. Souq had other interested parties such as a local mall developer who ended up backing Noon - another Middle Eastern e-commerce site and Souq competitor.

Why is this an important tech acquisition for Amazon? Not only are they entering a market with significant growth potential but geographically there might be a showdown between Amazon and Alibaba in the rapidly developing Indian market. It looks like things are looking pretty rosy for Amazon’s CEO Jeff Bazos who just passed Warren Buffet to become the second wealthiest person on the planet.


Transcript

Dave Plaskow: Hello and welcome to EisnerAmper’s Technology podcast series. With more than 500 technology clients, we’re always interested in the latest trends and developments as well as any related business and accounting opportunities and challenges.


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