A first glance the Middle East is in the middle of a start-up boom.
Investment is soaring, but much of it is focused on just two companies – and one country. There’s work to be done to catch up with the global leaders, but the good news is, there’s plenty of potential for expansion.
Amazon’s acquisition of Souq.com, reported to be in the region of $650-$750 million, put the region’s start-up scene on the global map this year.
Souq is arguably MENA’s top online retailer, and competes with Amazon in several key markets in the region.