It has now been confirmed that a tech fund led by Mohamed Alabbar who is the Chairman of Emaar Properties & Founder of soon-to-be-launched Noon has acquired JadoPado. The website had earlier announced that they’ve been acquired without disclosing the name of acquirer. This is first noteworthy acquisition of a local ecommerce player by Alabbar. Alabbar’s Emaar Mall had earlier challenged Amazon’s bid with an offer of 800 million to acquire Souq.com but it was too late by then.
Omar Kassim, Founder & CEO of JadoPado will be joining Noon as CTO, he confirmed in an AMA on Redditt. When asked about rest of the team of JadoPado, he said that they would be working on multiple projects including Noon.
Founded in 2010, JadoPado was closed down earlier this month after they announced the news of acquisition.
Latest posts by Zubair Naeem Paracha (see all)
- Lebanese edtech Synkers raises $1.8 million to connect students with tutors and mentors - September 27, 2020
- Careem goes remote-first, will allow employees to work from home on a permanent basis - September 24, 2020
- Egyptian payments platform Kashier raises six-figure seed - September 23, 2020