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It competes with giants like Souq and Jumia here.
E-commerce site Noon, launched in Dubai in 2017 with funding worth $1 billion, is preparing to launch in Egypt, the region’s largest market, according to Menabytes.
The start-up, founded by Emaar chairman Mohamed Alabbar, managed to become a serious challenger to Souq and Jumia’s dominance in the booming online shopping market, and has since launched in Saudi Arabia with investment and financial backing from the sovereign state wealth fund.
Last year, Noon announced a partnership with eBay through which customers in the UAE and Saudi Arabia can order eBay items directly from Noon. It’s unclear whether the feature will be available to Egyptian customers after the company’s expected launch in Egypt in the second quarter of 2019.
The highly sought-after Egyptian market bodes well for Noon, with the country’s e-commerce market estimated to expand to $3 billion by 2020. However, despite having a strong market of 100 million, e-commerce companies still face the challenge of seeking penetration. In the Egyptian market, most Egyptians still choose to shop offline.
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