The group – which includes souq.com, the largest e-commerce company in the region, may also sell partial stakes in some of the eight companies under its umbrella, Chairman and CEO Samih Toukan said
Toukan set up Jabbar after selling in 2009 Arabic-language internet venture Maktoob.com, the largest portal in the Arab world, for about US$165m to Yahoo!, the second-most popular internet search engine.
"Jabbar has raised a capital of $60 million so definitely we'll be talking millions of dollars," Toukan said when asked for what the size of investment or acquisitions might look like.
Souq competes with Namshi, which sells shoes and clothing in the Middle East - and secured $20 million in financing from JP Morgan Chase and Blakeney Management last week.
http://www.arabianbusiness.com/jabbar-in-talks-with-investors-sell-companies-stakes-475037.html
Toukan set up Jabbar after selling in 2009 Arabic-language internet venture Maktoob.com, the largest portal in the Arab world, for about US$165m to Yahoo!, the second-most popular internet search engine.
"Jabbar has raised a capital of $60 million so definitely we'll be talking millions of dollars," Toukan said when asked for what the size of investment or acquisitions might look like.
Souq competes with Namshi, which sells shoes and clothing in the Middle East - and secured $20 million in financing from JP Morgan Chase and Blakeney Management last week.
http://www.arabianbusiness.com/jabbar-in-talks-with-investors-sell-companies-stakes-475037.html
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