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Tiger Global Boosts Souq.com Investment in Latest Funding

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Tiger Global Management LLC and South Africa’s Naspers Ltd. boosted their investments in Dubai-based online retailer Souq.com during the company’s latest fundraising round.

Souq.com secured $275 million from investors also including Standard Chartered Private Equity, International Finance Corp., and Ballie Gifford, according to a statement from the company. New York-based boutique Allen & Co. LLC advised Souq.com on the deal, according to the statement. The company’s business model is similar to that of Amazon.com Inc.