UAE’s elGrocer Acquired by Telecoms Giant Etisalat
The online grocery ordering platform becomes the latest addition to Etisalat’s increasingly diverse business portfolio.
Telecoms giant Emirates Telecommunications Group Company (Etisalat) has acquired 100 percent of online grocery startup, elGrocer, for an undisclosed amount. Etisalat’s recent expansion into the food delivery business with Smiles means that elGrocer comes as a natural extension of Etisalat’s increasingly diverse business portfolio.
Founded in 2015 by Nader Amiri, elGrocer is an online marketplace operating across the UAE, one that brings together grocery retailers and specialty stores on a single platform that has amassed more than 500 outlets and 120,000 listed products.
“We are excited to join forces with the Etisalat team, giving us the opportunity to tap into their digital capabilities, advanced network and services to accelerate our strategic expansion plans. Combining our strengths backed by Etisalat’s strong base will give us full strength to capture the market opportunities ahead,” said Raed Hafez, CEO of elGrocer.
The UAE is one of the most advanced nations for e-commerce in the MENA region, with this acquisition will only serve to contribute to its growing digital economy.
