Middle East

Tiger Global invests $150 million in Souq.com

Souq.com raised $150 million U.S. from U.S.-based investor Tiger Global Management, bringing the total invested in Souq.com by Tiger Global Management to $300 million U.S.. This investment is the largest made by any online business in the region, and is earmarked to support the ecommerce plans of the site, and for development and expansion. In March last year the website raised about $75 million...

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AutoTraderUAE.com opts for free listings

AutoTraderUAE.com decided to go for the gap that the Dubizzle decision to charge for listings opened up, and switched from pay-to-list to free-to-list. Users merely need to be registered and have an account on the auto site to be able to list ads to sell their used autos in Dubai. Also, users who want to buy used autos in the wider GCC region can visit the site and browse through listed used...

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Dubizzle unveils revamped app

General classifieds site Dubizzle.com launched a new version of its mobile app, with totally different look-and-feel and many new features, including an improved search, different viewing options and swipe actions. The new search function allows users to easily pick the category and sub-category, and allows word recognition after the first typed letter. Also, the ability to first browse...

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Blocket founder launches Dubicars in UAE

A new player entered the auto vertical in the UAE – Dubicars.com, an online platform for browsing new and used autos offered by UAE auto dealers specifically in Dubai and Abu Dhabi. Dubicars.com was founded in 2014 by Pierre Siri and partners. Siri is  the founder of famous Swedish classifieds site Blocket.se, and as an investor and management member of the famous real estate site...

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Jobzella to expand to Qatar, Kuwait with new capital

Jobzella.com, the online social, professional network and career site, announced plans to expand to Qatar and Kuwait by 2016. News of the expansion plans broke in the wake of the site’s expansion to the Saudi Arabian market last year. Jobzella’s head office will also move to Dubai UAE next year, to help the company, which operates from Egypt, to focus on the entire GCC area. Other...

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Imena to tackle North Africa, then list

The management of Imena Group announced recently that it’ll raise funds for expansion into North Africa, by selling a minority stake in the company to international investors. The company hopes to raise about $100 million U.S. with the sale of the stake. More than half of this amount will be used to develop new businesses, including more classified ad sites, health care and education...

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