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May 24, 2017 05:51 am GMT
Emaar Malls missed out on a bid to buy Souq when Amazon picked up the Dubai-based online retailer for about $650 million in March. Now the retailing giant of the Middle East is making another acquisition to step up its game in e-commerce. Today Rocket Internet — the Berlin-based e-commerce incubator — announced that it has sold 51 percent of Namshi, its Middle Eastern Amazon clone,… Read More
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/4aatGsmthcg/
Rocket Internet sells 51% of fashion site Namshi to Dubais Emaar Malls for $151M
Emaar Malls missed out on a bid to buy Souq when Amazon picked up the Dubai-based online retailer for about $650 million in March. Now the retailing giant of the Middle East is making another acquisition to step up its game in e-commerce. Today Rocket Internet — the Berlin-based e-commerce incubator — announced that it has sold 51 percent of Namshi, its Middle Eastern Amazon clone,… Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/4aatGsmthcg/
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