Keith Nilson, Senior Vice President of Emerging Markets at Yahoo, said the company would not comment of the value of the deal. it is rumoured to be around $100m.
Maktoob is largely know for its social networking offerings, where it has built a large audience. It was launched out of Jordan as an Arabic language web email service. Earlier this year, it also launched a business portal.
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Yahoo buys Maktoob
- Jordan: Tuesday, August 25 - 2009 at 11:58
Yahoo has bought Middle East online portal Maktoob.com. The portal will be rebranded Yahoo Maktoob. The deal, announced today, is expected to be completed in the fourth quarter, but does not include all of Maktoob's offerings. Its Arabic search engine (Arabia) and Souq.com, the pair said, are not part of the deal, and will instead become part of a new internet group.
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StaffTuesday, August 25 - 2009 at 11:58 UAE local time (GMT+4)
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This article was updated on Wed Aug 26 2009.
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