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Friday, 12 May 2017

Fund led by Dubai billionaire Alabbar buys UAE website JadoPado | Reuters

Fund led by Dubai billionaire Alabbar buys UAE website JadoPado | Reuters:

"United Arab Emirates e-commerce and online marketplace website JadoPado has been acquired by a technology fund led by Dubai billionaire and Emaar Properties chairman Mohamed Alabbar, his spokesperson said in a statement to Reuters on Thursday. The transaction comes soon after Amazon's acquisition last month of regional e-commerce website Souq.com, described by advisor Goldman Sachs as "the biggest-ever technology M&A transaction in the Arab world". "JadoPado has been acquired by the tech-fund launched by Mohamed Alabbar, in the first of several acquisitions and partnerships as part of his digital/tech investments in the region," the spokesperson said, without disclosing a value for the transaction."



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