Noon.com launch 'just weeks away'
Gulf e-commerce venture finalising launch plans, 'not worried' by reported Amazon deal to enter region
Noon.com, the e-commerce venture founded by Mohamed Alabbar, is "just weeks away" from launch, according to sources quoted by Arabian Business.
The new e-tailer, which is reportedly backed by $1bn of investment, half of which came from Saudi Arabia's Public Investment Fund, has apparently been in beta-testing and is "finalising launch plans" ahead of a launch at some point in the future.
Yesterday it was reported that Amazon had bought Souq.com, the largest online marketplace in the Middle East, although neither party has confirmed the deal.
Noon.com has said it will offer twenty million different products when it launches, across categories including food, fashion, books, electronics, toys and so on. A January launch date for the site, announced in November, was missed.
Arabianbusiness.com citing a source close to Alabbar, said he was "not worried" by the [Amazon] deal.
Logistics provider Aramex, which has a stake in Noon.com, will be an integral part of the Noon.com ecosystem, Alabbar previously announced, and it is understood that the site is targeting three hour, door-to-door delivery, with advanced digital payment platforms.
Noon is also understood to be taking steps to avoid selling counterfeit goods, a major problem for online marketplaces in the region.