As we continue to watch on emerging online markets overseas, recent news that a Dubai based seller and market souq.com has raised $275m in investment certainly piqued our interest.
Apparently they currently sell 400k items online and bring in over 24 million unique visitors to the website monthly. Which`s not to be sniffed at gigleague.com .
Souq.com sells everything from phones and customer electronics right through to clothing and accessories. The financing round of $275m is billed as the largest financing of an e-commerce company in the Middle East. The backers include Naspers Ltd. and hedge fund Tiger Global Management.
Abu Dhabi s media arm twofour54 revealed that it has actually acquired a stake in Collectionair, an online marketplace for art from emerging markets specifically from the Middle East and Africa.
No information was revealed about the size of the stake or the value of the deal.
Collectionair was among the first batch of start-ups released as part of Abu Dhabi-based Flat6labs accelerator program in 2015.
The platform generally supplies a worldwide accessible marketplace and a sharing neighborhood where individuals can buy, rent and swap works from emerging markets.
Users can likewise find out about artists journeys and cultural insights and check out expert opinions on the pieces offered on the platform.
CFPB Roundup: Regular monthly Problem Picture, Supervisory Highlights, and Complaints about Online Market Lenders
The Consumer Financial Protection Bureau (CFPB) has had a busy couple of weeks, releasing the latest month-to-month snapshot of customer grievances, releasing its Supervisory Highlights newsletter to reveal the Bureau has actually recuperated $14.3 million for customers, and announcing that it will begin to accept grievances about online market lenders.