The exit of Souq to Amazon is the largest tech transaction of the region, and Souq continues to pave the way in e-commerce in the region.
But while it is taking more time to catch up in these markets, the whole regional market will eventually have to adapt.
has unparalleled opportunity to become the destination of choice for consumers.
"Access to information and communications tools can positively impact people's lives in many ways, and with the acquisition of and our investment in the region, the Arab world will soon get a Yahoo!
This is an excellent move for Maktoob and will make it grow," he told Bloomberg.
Maktoob, founded in Jordan in 2000, is the largest internet portal in the Arab world and owns search, entertainment and matrimonial websites.