All Over Group accquires 25% of Kuwaiti Blockat

All Over Group accquires 25% of Kuwaiti Blockat

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.

Read more: Mohamed El-Sewedy acquires Magma through VC firm Averroes Ventures

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.