Online marketplace: MHD becomes significant stakeholder in Nabay.com
MUSCAT, MAY 9
Mohsin Haider Darwish LLC, one of the largest business houses in the Sultanate, has signed an agreement to become a significant shareholder in the unique innovative global online marketplace – Nabay.com. The investment will help accelerate the platform’s user-focused mission to become one of the largest cross-border e-commerce marketplaces in the region.
Representing Nabay.com at the signing was its founder and chairman, Nabeel Jawad Sultan, while Mohammed Abdallah al Kharousi, the Chief Investment Officer of MHD-ITICS, signed on behalf of MHD LLC.
Nabay.com, a pioneering initiative by Nabeel Jawad Sultan, is a unique global online e-commerce marketplace offering. The platform offers three core services from a single platform for consumers and businesses around the world – both on web and mobile apps – termed as its three pillars – a one of its kind online mall ‘The Nabay Mall’, a community exchange engine ‘The Barter Exchange’, and a unique concept for an existing website to plug into the platform ‘The Plugged In’.
The first of these pillars, and the one that is at the very heart of the platform, ‘The Nabay Mall’ has been designed to offer businesses and sellers the freedom to open their personalised store, complete with their own brand identity, within a dynamic and diverse global online mall. In addition to the independent store, businesses are also presented with the full gamut of e-fulfilment services expected of a platform of this calibre, including payment gateways, end-to-end logistics store administration, and analytics.
The ‘The Barter Exchange’, on the other hand, allows users to swap items with one another. It is an exchange engagement that can be done in publicly or within the confines of private groups or special interest groups.
And lastly, the ‘The Plugged In’ pillar completes the trio by allowing website owners to plug their existing websites directly into Nabay.com; thereby expanding their opportunities with a greater level of global exposure and direct access to consumers.
“As we step into the next stage of our growth, though available globally, we are looking forward to focus our marketing efforts into the Middle East, starting with the UAE. From here we will look towards establishing a strong foothold in KSA and eventually the rest of the Middle East,” said Nabeel Sultan. “
We are delighted to be backed by a group as renowned as MHD. Their investment will no doubt provide us with an enhanced strategic and competitive advantage in our endeavours. I am confident that with them beside us, it will only be a matter of time before we realise our full potential as the preeminent ecommerce platform in the region.”
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