Tuesday, August 25, 2009

Yahoo Buys Maktoob.com

Sunnyvale-based Yahoo said today that the firm has signed a definitive agreement to acquire Arab online community Maktoob.com. Financial terms of the acquisition were not disclosed. Maktoob.com, which is based in Dubai, United Arab Emirates, has more than 16.5 million unique users, according to Yahoo. Maktoob.com was founded in 2000 by Samih Toukan and Hussan Khoury. As part of the deal, Maktoob is splitting off related sites Souq.com, cashU.com, Araby.com, and Tahadi.com into a new, independent company, the Jabbar Internet Group, which will be managed by Samih Toukan.