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Amazon’s CEO Jeff Bazos passed Warren Buffet in wealth. In Technology M&A news, Amazon competes with Alibaba by buying Dubai based e-commerce Souq.

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

   

In this episode of TechTalk, we discuss 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. Today we’re talking about Amazon’s acquisition of Middle Eastern e-commerce company Souq. I’m your host Dave Plaskow and with us today is Dave Katz, senior audit manager in EisnerAmper’s technology and life science practice.  You know it, you love it, it’s TechTalk. Dave, greetings and salutations.

Dave Katz:Dave, good to be here again.


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John Pennett has public accounting experience with a strong emphasis on life sciences companies. Member New Jersey Society of Certified Public Accountants and New Jersey Technology Council and advisory board of eLabs.

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