The Lat­est In­dus­try News

Arabnet - The Quarterly - - Content -

A quick run-down of the lat­est up­dates in the sec­tor and a wrap up of the most re­cent Arabnet events

Souq.com, the big­gest Ara­bic e-com­merce plat­form, has re­ceived $75 mil­lion from Naspers, Africa’s largest me­dia com­pany, af­ter in­vest­ing $40 mil­lion dol­lars back in 2012. Th­ese in­vest­ments make Naspers an owner of a 36% stake in the busi­ness. In re­lated news, Souq.com re­vealed the launch of Egypt’s first On­line Mar­ket­place Uni­ver­sity by means of two in­au­gu­ral pro­grams: “Mar­ket­place E-com­merce En­trepreneur­ship Pro­gram”, and “The Mar­ket­place In­cu­ba­tor”. Souq.com Egypt will pro­vide the es­sen­tial ap­pa­ra­tus so en­trepreneurs can trans­form their ideas into prof­it­ing busi­nesses, in­clud­ing shared of­fice space, ac­cess to con­tent & pro­duc­tion, daily courier ser­vices, stor­age space at one of the com­pany’s of­fices in Maadi, Cairo, and the ad­vice of men­tors through work­shops.

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