Alabbar fund revealed as buyer of JadoPado

A technology fund led by the chairman of Emaar Properties has been revealed as the buyer of UAE-based e-commerce service JadoPado.

A spokesman for Mohamed Alabbar confirmed his fund as the buyer in an email statement to Reuters.

On May 1, JadoPado revealed it had been acquired by “a large regional business” but could not say who.

“The JadoPado team will be moving into executing great new work, and this unfortunately means that we’ll be closing down the JadoPado marketplace,” said the company’s blog.

Last month, Amazon acquired, another regional e-commerce firm, in a sign that the market for online shopping is becoming increasingly competitive.

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