Tag: Souq.com

Arab Auction Portal Souq.com Launches Operations In Egypt

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Souq.comSouq.com, the Arab online auctions company, that is a subsidiary of Jabbar Internet Group, has officially launched operations in another country in the region: Egypt.

The Egyptian version of Souq.com is available in both Arabic and English, hoping to tap into one of the biggest internet markets in the Arab world in terms of number of users with over 12 Million internet users as of June 2009 according to ITU numbers (15.9% out of a population of nearly 80 Million).

Souq.com has been cautious not to attempt to grow too fast and launch the service for the whole region at one go, preferring to set up operations country by country, having staff on the ground in each country to manage the system and make sure users (both sellers and buyers) get the most out of the system and are fully satisfied, also aiming to overcome any trust or security fears.

Souq.com

A number of listings have already started showing up on the site, and one of the offers the service is currently giving is free pickup and delivery in Cairo and Alexandria.

With this launch, Souq.com now operates in four countries: United Arab Emirates, Saudi Arabia, Jordan and now Egypt.

Nahel.com, A New UAE Online Shopping Destination

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nahelIn an Arab internet scene where e-commerce remains largely untapped, Nahel.com from Dubai is a very welcome addition, with a very big goal: to establish itself as a prime B2C online retailer.

They’ve worked on building an inventory of thousands of new brand-name products covering several categories, from electronics, to games to perfumes, watches and clothing. They source products from wholesalers and distributors in order to be competitive in terms of selection, quality and prices.

The idea behind Nahel.com was conceived back in 2007, with its original business plan born as the first place winner in the University of Toronto’s Business Plan Competition.

Over the past 2 years Nahel sold products through other existing online markets, like Souq.com, and were involved in all aspects of selling products online. After building the experience and community, Nahel went a step further, and launched its independent e-commerce portal, offering a full e-commerce experience to its clients, from the moment they log on to the website all the way to post-sale services.

Nahel.com

To make it as easy as possible for people to pay for items they buy on Nahel, several payment methods are provided: from Cash on delivery, to credit cards, PayPal and Nahel gift certificates.

Nahel.com was founded by Saeid Hejazi, and was officially launched in July 2009 from Dubai, UAE. It currently only covers the UAE, although there are plans to expand to the GCC region and maybe the whole Middle East in the future.

Jabbar Internet Group: The New Group & Its Companies

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JabbarIn the previous post about Yahoo! acquiring Maktoob, there was a brief paragraph about what will happen to the rest of the Maktoob Group. Here, we’ll get into more details about what’s next for the group and its companies.

A new group entity has been setup under the name ‘Jabbar Internet Group’, to group the remaining sister companies of Maktoob Group that weren’t part of the Yahoo! deal, which are: Souq.com, CashU, Tahadi, Ikoo and Araby. This group is owned by the current investors, including Tiger Capital (a hedge fund out of the United States), the founders and other investors.

Samih Toukan, one of the two original co-founders of Maktoob, will be heading the group as CEO and Chairman. He said that the group will be receiving a fresh capital injection of $20 million and will continue to expand aggressively.

As for the companies of Jabbar Internet Group, they are as follows:

Souq.comSouq.com: Headed by Ronaldo Mouchawar; Established in 2005, Souq.com has grown to become the largest e-commerce site in the Arab world covering Saudi Arabia, UAE, Jordan, with plans to expand to new markets.
Site: www.souq.com

cashUCashU: Headed by Martin Waldenstrom; Launched in July 2002, cashU is a prepaid Internet payment service, through which users can purchase products and services online through cashU’s merchant base. The company has seen a spurt of growth over the past couple of years as a result of the spread of online gaming.
Site: www.cashu.com

TahadiTahadi: Headed by Steve Tsao; Established end of 2008, Tahadi was established as a publisher of Massively Multiplayer Online Games (MMOG’s) targeting the Middle East and North Africa region. Their first game is Arabic Ragnarok Online (ARO).
Site: www.tahadi.com

ikooIkoo: Headed by Isam Bayazidi; After Maktoob Group’s acquisition last month of leading MENA advertising network E-Marketing MENA (a company founded by ex-Maktoobian Khaled Jabasini in 2005), it has merged it’s Kalimat Text Advertising product into the company, and re-branded the lot as Ikoo.
Site: www.ikoo.com

ArabyAraby: This is the group’s search engine offering, providing advanced Arabic-language search capabilities, and a lot of the technology actually used to power search in different channels on Maktoob.
Site: www.araby.com

Jabbar Internet Group and its companies should continue to cooperate closely with Yahoo! Maktoob through commercial partnership agreements.