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Founder-story archive · · 56 seconds

Souq and Amazon

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Timestamped caption record

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  1. 0:00The man behind the Burj Khalifa bid more
  2. 0:01than Amazon for the Middle East's
  3. 0:03biggest online store. Amazon still got
  4. 0:05it. He had already started a rival. Meet
  5. 0:07Mohamed Alabbar, founder of Emaar. He
  6. 0:09built the Burj Khalifa and the Dubai
  7. 0:11Mall. In 2016, the mall builder went
  8. 0:13online. He announced Noon, a
  9. 0:15billion-dollar online store half-funded
  10. 0:16by Saudi Arabia's wealth fund. In 2017,
  11. 0:19the region's biggest online store,
  12. 0:20Souq.com, was for sale. Alabbar's mall
  13. 0:23company offered $800 million.
  14. 0:25Amazon bought it for about $586 million.
  15. 0:28Souq became Amazon .ae, then Amazon.sa
  16. 0:32and Amazon.eg. Noon launched in October
  17. 0:342017 in the UAE, then Saudi Arabia. It
  18. 0:38built its own delivery fleet and now
  19. 0:39delivers groceries in minutes. Noon has
  20. 0:41reportedly raised more than $3 billion.
  21. 0:43Alabbar says it is worth close to $10
  22. 0:45billion and was profitable. He plans to
  23. 0:47list it. Amazon bought the biggest
  24. 0:49store. Alabbar built his own.
  25. 0:52Follow Vibeeconomy for more.
  26. 0:54>> [music]
Original publication and evidence scope

Original YouTube title: “His company outbid Amazon for Souq. Amazon still got it.”. The original title may contain claims not confirmed by this companion.

Upload date, duration and captions were retrieved from the public YouTube record on 2026-10-16. Dates are day-level, not an asserted exact upload time. Market values, audience totals and references to “today” belong to the original publication context.

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