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Souq.com invests in InstaShop grocery delivery application

Tuesday 18 October 2016 | 11:21 CET | News
Online marketplace Souq.com has announced its investment in InstaShop, a hyperlocal online grocery ordering application. It has taken a significant stake as a strategic investor with a view to expanding its offering in the FMCG and grocery categories, leveraging on its current user base. Investment banking firm Morgan Stanley estimates an increase in grocery shoppers buying online from 21 percent in 2015 to 34 percent in 2016.

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Categories: Internet
Companies: Souq.com
Countries: United Arab Emirates
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