In the last couple of years, entrepreneurs across the Middle East have launched new products, businesses, and have shown the possibility of creating a vibrant startup scene similar to Europe and the United States. Startups from the region have shown great promise. An example for this is the recent acquisition of Souq, an e-commerce player that got acquired by Amazon for close to $800 million. Another notable exit from this region is Talabat which was acquired by Delivery Hero based out of Germany. According to a report published by MAGNiTT, a research agency, more than $870 million were invested in Middle Eastern startups last year and each company raised more than $500k individually. E-commerce, however, is a crucial domain in which startups can do much more to fill the gap in the market, so let’s take a closer look at this vital industry.
It used to be a hobby for geeks. Today, Virtual Reality edges towards the mainstream: The VR industry is expected to break the $1bn (£710m) barrier for the first time this year, according to Deloitte; and with Goldman Sachs predicting the market could be worth $80bn (£56.8bn) by 2025 the opportunities are only going to […]