All Over Group has announced that its CEO, Khaled Al Rafaai, has acquired 25% of Blockat, Kuwait’s e-commerce platform.
The deal, which accounted to $1.12m Kuwaiti dinars equivalent to $3.6m US-dollars, also includes plans to list the platform on the stock exchange.
It is worth mentioning that All Over Group is a Kuwaiti media production company, while Blockat is an e-commerce platform focusing on products for kids and teenagers in specific.
“This strategic partnership between Blockat and All Over Group is considered the start of a new era for integrating E-commerce and the content industry with artistic production and advertising, with the aim of creating a unique case of artistic creativity that reflects the rapid spread and expansion of the customer base in the region.” commented Blockat via Linkedin.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.