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INTERNET | eCommerce / Apparel & Accessories
glambox.me

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Stage

Acquired | Acquired

Total Raised

$1.36M

About GlamBox Middle East

GlamBox Middle East is an online subscription service for beauty product that aims to help subscribers sort through the clutter of beauty products, find new brands, and rediscover old favorites.

GlamBox Middle East Headquarter Location

Dubai,

United Arab Emirates

+971 (0)4 455 8699

Latest GlamBox Middle East News

GlamBox bought by Saudi consortium

Apr 5, 2018

Regional beauty subscription e-commerce entity GlamBox Middle East has been acquired a Saudi-based consortium of investors for an undisclosed fee. The buyers’ identities have yet to be... <p><strong>GlamBox bought by Saudi consortium</strong></p> <p> Regional beauty subscription e-commerce entity GlamBox Middle East has been acquired a Saudi-based consortium of investors for an undisclosed fee. The buyers’ identities have yet to be...</p> <p><a href="https://middleeast.businesschief.com/finance/1258/GlamBox-bought-by-Saudi-consortium">https://middleeast.businesschief.com/finance/1258/GlamBox-bought-by-Saudi-consortium</a></p>      Cancel      Andrew Woods - Finance - Nov 20, 2017 Regional beauty subscription e-commerce entity GlamBox Middle East has been acquired a Saudi-based consortium of investors for an undisclosed fee. The buyers’ identities have yet to be revealed although they were previous investors in the 2012 startup launched by co-founders Shant Oknayan, Fares Akkad, Christos Mastoras and Marc Ghobriel. GlamBox – which delivers the world’s leading brands to households across the UAE and Saudi Arabia – has been the interest to a several rounds of funding including $4mn in venture capital from the likes of STC Ventures, MBC Ventures, R&R Ventures and numerous more KSA investors. The co-founders have backed the buyers’ investor group to lead the company into its next phase of growth, possessing, as it does, a wealth of experience in media, retail and hospitality. Related stories: A statement from GlamBox said: “We are proud to have successfully completed a full lifecycle of a startup in the Middle East ideation, seed funding with our own capital, building a team, market launch in the UAE, VC funding over two rounds, building a great product, scaling the business, international expansion to KSA, and finally exit via acquisition within five years. We feel that we succeeded despite tough challenges. “The buyer is a KSA consortium of investors that was an existing investor in GlamBox. Seeing the significant growth in the company, the investors expressed interest in acquiring the company. While we have been approached by numerous potential buyers in the last few years, but the current buyers made sense from many perspectives, particularly the fact that they were already involved in GlamBox.” Tags:

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Expert Collections containing GlamBox Middle East

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

GlamBox Middle East is included in 3 Expert Collections, including Direct-To-Consumer Brands (Non-Food).

D

Direct-To-Consumer Brands (Non-Food)

1,192 items

Startups selling their own branded products directly to consumers through owned e-commerce channels, rather than relying on department stores or big online marketplaces.

E

E-Commerce

9,049 items

B

Beauty & Personal Care

1,751 items

Startups in the beauty & personal care space, including cosmetics brands, shaving startups, on-demand beauty services, salon management platforms, and more.

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