EBay Inc. has partnered with Noon.com to list well-known products from the U.S. and other countries on the Middle Eastern online retailer's platform beginning the second half of 2018, Reuters reported June 12, citing a statement from Noon.com.
The collaboration gives Noon.com's shoppers in Saudi Arabia and the United Arab Emirates access to items from other parts of the world through eBay, the report said.
Noon.com, which was founded by Emaar Properties PJSC Chairman Mohammed Alabbar and is backed by Saudi Arabia's Public Investment Fund, said it will explore marketing opportunities with California-based eBay and consider sharing best practices, the report added.
A Noon spokeswoman told Reuters that eBay is not purchasing a stake in the platform and declined to comment when asked about the financial terms of the partnership, according to the report.
Other details of the deal were not disclosed, the report said.
Companies have been making forays into the Middle East due to a burgeoning young population that is tech-oriented, the report noted.
In May 2017, Emaar Malls Group acquired a 51% stake in the fashion website Namshi through an all-cash deal worth $151 million, according to Reuters. However, an Emaar subsidiary lost to Amazon.com Inc. in a bid to purchase another Middle Eastern online company, Souq.com, which Amazon bought in 2017.