Crunch Riyadh Exclusive Ronaldo Mouchawar CEO of souq.com & VP Amazon MENA at Amazon. In March 2017, Amazon acquired Souq.com for $580 million in cash, with Mouchawar now serving as VP of Amazon MENA, highlighting his strategic leadership and impact in the e-commerce industry.
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Ronaldo Mouchawar, co-founder of Souq.com in 2005, alongside Jabbar, Internet Group’s Samih Toukan, and Hussam Khoury, expanded the platform to offer a wide range of products, making it the largest e-commerce retailer in the Arab world. He introduced the ‘White Friday’ sales event in 2014, aligning with the US’s Black Friday, and emphasized the cultural significance of Friday as a day of prayer in the Arab world. The event was highly successful, generating over $275 million in sales. Souq.com’s rapid growth and success led to a significant funding round in February 2016, valuing the company above $1 billion, marking the Arab world’s largest funding deal at the time.