JadoPado.com has announced the abrupt closure of its online marketplace, following the company’s acquisition by an unnamed Middle Eastern company, the latest high-profile deal in the region’s burgeoning e-commerce sector.
“We’re incredibly happy to announce that JadoPado has been acquired by a large regional business,” said Omar Kassim, the founder, in a blog post on the company’s website yesterday.
“The JadoPado team will be moving into executing great new work, and this unfortunately means that we’ll be closing down the JadoPado marketplace.”
Mr Kassim did not disclose the identity of the buyer or the size of the transaction when contacted by The National.
The purchase of JadoPado.com comes a month after Amazon acquired regional e-commerce site Souq.com, the largest technology buyout in the Middle East to date.
Mohamed Alabbar, the chairman of Emaar Properties, announced in November that he planned to launch noon.com, a US$1 billion e-commerce platform focused initially on the UAE and Saudi Arabia, in conjunction with Saudi Arabia’s Public Investment Fund.
In the same month, Mr Alabbar announced a €130 million (Dh521m) joint venture with Milan-based Yoox Net-a-Porter, an online luxury fashion retailer.
Founded in 2010 as an e-commerce site, JadoPado.com transformed itself into an online marketplace in early 2015, enabling other retailers and individuals to sell their wares on the site, with the company taking a small commission on each sale.
The number of registered sellers on its website jumped by 85 per cent in 2016.
JadoPado.com said yesterday that sellers on its marketplace will have access to its “hotcake” seller tools until May 25.
jeverington@thenational.ae
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
At Eternity’s Gate
Director: Julian Schnabel
Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen
Three stars
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Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support