Maktoob Founder: New Group Structure & Fresh $20M Funds

Maktoob Founder, Samih Toukan, has confirmed the acquisition of Maktoob.com by Yahoo! earlier today and new structure is set and promises new funds to be injected.

Samih Toukan said to Maktoob Business portal that Jabbar Internet Group will oversee the Maktoob Group’s remaining products, including online auction site Souq.com, Araby.com, Tahadi.com, ikoo.com and online payment platform cashU.com.

Toukan said the company will receive a fresh capital injection of $20 million and will continue to expand aggressively.

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Tarek is the founder and chief researcher at Youngberry, a youth research and marketing firm dedicated to the region. Tarek founded interactiveME.com and previously worked as Manager at Flip Media (Interactive Agency), Bayt.com (Job Site) and Consulting House Qatar (Consulting firm). He is researcher and writer on internet & disruptive innovation, entrepreneurship, and youth culture.