| 12 Jul 2010 |
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Souq.Com Introduces Innovative Business Model for Small and Medium Sized Start-Ups in the Middle East
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Region's leading e-commerce portal proposes successful business model to budding entrepreneurs; without the need of initial capital or infrastructure
Companies and entrepreneurs can own a store on Souq.com in less than sixty seconds
With a customer-base of over a million who are searching for the best product deals, Souq.com provides an end-to-end e-commerce solution to sellers where they can setup an online store in less than sixty seconds and without any hassles of initial capital investment, legal work and technology/ physical infrastructure. Souq.com provides easy-to use tools to build an online store and manage inventory; giving sellers control to operate their business/ store and gain immediate return on their investment. In addition, sellers benefit from a secured payment mode as well as logistic services to complete an online sale.
"Startups need solid technology platforms, technical assistance and market exposure to develop and grow their businesses", said Ronaldo Mouchawar, CEO Souq.com. "We believe that we can address these needs and bring value to regional entrepreneurs, by providing fast and easy access to their products with no upfront costs and minimal eligibility requirements. Additionally, this will also provide start-ups with increased visibility to potential investors, clients and partners to help accelerate business success and thereby foster innovation and encourage entrepreneurship in the Middle East."
Souq.com has increased its presence since its launch in 2005 and now serves over 500,000 active buyers and sellers in the region. Furthermore, with a record figure of over 1.5 million visitors and 25 million page views every month, Souq.com plans to increase its customer base across new markets that include Saudi Arabia and Egypt.
After successful trading on Souq.com, Faiz Vahedna of Ashraf Electronics said, "With easy to use tools, constant support, secured payment platform and wider market reach; Souq.com has given us entrepreneurs an excellent business proposition to own a store online versus having an expensive setup in a mall. We have been successfully trading on Souq.com for the last three months and received immediate benefits on our investments and efforts. We look forward to continuing to sell our products on Souq.com."
Souq.com has become an internet platform of choice for many buyers and sellers to interact online. Souq.com has expanded to include several features and different categories to offer a convenient, secure and richer online experience to users in Middle East; including Souq SafePay and Souq Buyer Protection Program which guarantees 100% protection to buyers and sellers when transacting on Souq.com, Souq Motors, Souq Property and a wide-range of consumer products.
-Ends-
About Souq.comSouq.com was established in 2005 to become the largest e-commerce site in the Arab world covering Saudi Arabia, UAE, Jordan and Egypt. Souq.com is the channel where thousands of buyers & sellers in the region meet on a daily basis to sell products over a trusted platform that offers both various local payment options and integrated delivery methods catered to the markets that they serve.
From the first transaction we helped facilitate on Souq.com; we have been pioneering the field of e-commerce in the Arab World to offer our users a constant safe, easy, and fun place to conduct business. We started as the first online auction site and quickly evolved to a fully integrated e-commerce site offering Fixed price options, online stores, and Souq SafePay to name a few.
For more information, please contact
Ayesha Karumbaya
Asda'a Burson-Marsteller
Tel: + 971 4 3344550
Email: a.karumbaya@asdaa.com
© Press Release 2010
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