Popular e-commerce portal JadoPado has officially announced on their blog that they have been acquired by an unnamed business company. While JadoPado did not comment on the identity of the company that acquired them, the main website appears to be currently redirecting towards the announcement blog post.
There is currently no information regarding the financial numbers of this deal. Nevertheless, we guess that the “large regional business” is none other than Emaar Group. Few days before Amazon had officially acquired Souq.com, Emaar Group had reportedly bid Souq.com for $800 million.
This news by JadoPado is certainly a surprising one and we wish the best for the JadoPado Team for creating a great online shopping experience. Read out the following press by Omar Kassim, the Founder of JadoPado.
Our grand experiment is at an end after 2420 days.
We’re incredibly happy to announce that JadoPado has been acquired by a large regional business. While we’d love to give you more details, we’ve been sworn to secrecy.
The JadoPado team will be moving into executing great new work, and this unfortunately means that we’ll be closing down the JadoPado marketplace as well as JadoPado hotcake.
If you’ve experienced JadoPado as a customer, thank you for gracing us with your business, for taking a chance on us when others wouldn’t, for speaking with us, for giving us feedback, for all your tweets, for your emails and for generally bearing with us.
If you’re a seller on the JadoPado marketplace, thank you for allowing us to be of service, for trusting us with your business, and for pushing us to keep building. Your access to JadoPado hotcake will remain available until Thursday May 25th 2017. If you may have payments that are due to you, please request a payout and rest assured that your funds will be remitted to you. If you are currently on a plan, your subscription will be cancelled over the next couple of days and any balance for the period left over will be refunded to you.
To my team, my colleagues, my friends, it’s been an honour. I look forward to doing more incredible work with all of you in the near future.
Onward and upwards.
Source: JadoPado End of Experiment