- Khaled Al Rafaai, CEO of Kuwait-based media production company All Over Group, has acquired 25 per cent of e-commerce platform Blockat, in a deal valued at $3.6 million.
- Founded in 2021 by Thamer Al Thamer, Blockat sells various products that cater to the needs of parents and their children.
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 for $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.