Ronaldo Mouchawar

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Ronaldo Mouchawar
Ronaldo Mouchawar.jpg
Born Aleppo, Syria
Residence Dubai, UAE
Alma mater Northeastern University
Occupation Founder & CEO of Souq.com

Ronaldo Mouchawar (Arabic: رونالدو مشحور‎), is a Syrian entrepreneur who is the CEO and co-founder of Souq.com, the largest e-commerce retailer in the Arab World.[1] He is a veteran of Maktoob, the internet portal purchased by Yahoo in 2009. In 2005 he launched souq.com.[2]

Early life and education[edit]

Ronaldo Mouchawar was born in Aleppo, in Syria. His father was a merchant, and this provided the inspiration for the name of the e-commerce site.[3] Mouchawar is also a former basketball player of the Jalaa SC Aleppo.[4]

Mouchawar holds a Master’s degree in digital communications and a Bachelor's Degree in electrical and computer engineering from Northeastern University in Boston, Massachusetts in the United States.[5] He spent the early years of his career with the Boston engineering firm working in technology and business management, including a role as technical and systems consultant at Electronic Data Systems (EDS).[6]

Career[edit]

Mouchawar co-founded Souq.com in 2005 alongside Jabbar, Internet Group's Samih Toukan, and Hussam Khoury.[7]

'White Friday'[edit]

In 2014, he established the White Friday sales event to coincide with Black Friday in the US, explaining that a "black" Friday doesn't make cultural sense in the Arab world, since Friday is the traditional day of prayer.[8] The sale was widely popular as it raised over $275 million.[9] In 2015 Souq.com more than doubled its sales during its second White Friday sale, with 13 million visitors and 600,000 items sold during November 25–28 across the UAE, Saudi Arabia, Kuwait and Egypt.[10] Additionally it was involved in the exclusive release of the Huawei Honor 6 launch in Abu Dhabi.[11]

Funding and Amazon acquisition[edit]

In February 2016, Souq.com announced it had received $275m of funding, with a valuation above $1bn, the Arab world's largest ever funding deal, making the e-commerce retailer the region's first unicorn.[12] In March 2017, it was made public that Amazon, the American e-commerce site acquired the brand.[13] The sum of this deal was not initially disclosed, though an Amazon SEC filing later revealed that the total sum paid was $580m in cash.[14][15]

Awards[edit]

Ronaldo Mouchawar has received several professional awards both in UAE and overseas.

  • 2013: Gulf Business Industry Awards, CEO of the year
  • 2015: Entrepreneur of the Year award

See also[edit]

References[edit]

  1. ^ "The Billion-Dollar Start-Up Club". Forbes Middle East. Retrieved 2016-10-08. 
  2. ^ Thomas, Aby Sam (2017-05-14). "Making History (Literally): Souq.com CEO Ronaldo Mouchawar". Entrepreneur. Retrieved 2017-08-17. 
  3. ^ "Ronaldo Mouchawar: How I created Souq.com". ArabianBusiness.com. Retrieved 2016-10-08. 
  4. ^ استثمارات رجال الأعمال السوريين في الخارج أرقام ضخمة .. ومشاريع كبيرة
  5. ^ Fida Chaaban (2016-04-17). "Follow The Leader: Ronaldo Mouchawar, Founder And CEO, Souq". Entrepreneur.com. Retrieved 2016-10-08. 
  6. ^ "Profile of Souq.com CEO Ronaldo Mouchawar". Africa-me.com. 2015-10-30. Retrieved 2016-10-08. 
  7. ^ "Ronaldo Mouchawar: How I created Souq.com". ArabianBusiness.com. Retrieved 2016-10-08. 
  8. ^ Deborah Amos Facebook Twitter. "A Syrian Entrepreneur Looks To Build The Amazon Of The Arab World : Parallels". NPR. Retrieved 2016-10-08. 
  9. ^ "Souq raises MENA's largest round of $275M". Wamda.com. Retrieved 2016-10-08. 
  10. ^ "Souq.com sales 'double during White Friday'". ArabianBusiness.com. 2015-12-07. Retrieved 2016-10-08. 
  11. ^ Chaaban, Fida. "Follow The Leader: Ronaldo Mouchawar, Founder And CEO, Souq". Entrepreneur Middle East. 
  12. ^ "Souq.com raises more than AED 1 Billion (USD 275 million), the largest e-commerce funding in the Middle East history - Souq.com (news)". Pr.souq.com. 2016-02-29. Retrieved 2016-10-08. 
  13. ^ Khalil, Ali. "Amazon buys Middle East's biggest online retailer". Times of Israel. Retrieved 20 April 2017. 
  14. ^ Khalil, Ali. "Amazon buys Middle East's biggest online retailer". Times of Israel. Retrieved 20 April 2017. 
  15. ^ "SEC Filing - Amazon.com (Form 10Q; Q1 '17)". www.sec.gov. Retrieved 2017-08-17. 

Further reading[edit]