Souq.com to plan IPO in the next 18-24 months
Souq.com, the Dubai-based online retailer with more than 1.5mn products on the site and 45mn monthly visitors, is planning to offer an undisclosed portion of its capital in an IPO in the next 18-24 months, said CEO Ronaldo Mouchawar. Earlier in February 2016, Souq received USD275mn in a second round of funding from New York-based Tiger Global Management and South Africa’s Naspers to expand its product line and raised another USD150mn from venture funds in June 2015. (The National)
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