Profile Abu DhabiBased Anghami 1.4M 220M: New CEO of Abu Dhabi-Based Anghami
As the new CEO of Profile Abu DhabiBased Anghami 1.4M 220M, I’ve been tasked with determining the company’s growth trajectory, its market position and also how to maximize shareholder value. After doing a thorough analysis, I’m ready to discuss my findings and offer a series of recommendations that will help you make informed decisions.
Online Music Streaming Platform
Profile Abu DhabiBased Anghami 1.4M 220M is a leading online music streaming platform for the Middle East and North Africa (MENA) region. It has a library of over 60 million songs – and also a user base of nearly 70 million registered users. The company has licensed all the songs on its app, and has a tamer subscription service available for a fee.
NASDAQ Stock Exchange
Profile Abu DhabiBased Anghami 1.4M 220M is also the first Arab tech startup to be list on the NASDAQ stock exchange. To date, it has raised approximately $33 million in equity from Mena-based investors. A recent SPAC listing announcement pegged the value of the venture at roughly $220 million. In addition to a large chunk of change, the company will be able to use its equity to fund a wide range of tech related projects.
Negotiated Licensing Deals
Although the Profile Abu DhabiBased Anghami 1.4M 220M app isn’t going to be the next iTunes, it is poised to become a major player in the streaming music space. It has negotiated licensing deals with major international labels, including Universal, Sony, and also Warner Music Group, and is expect to bring in about $88 million in revenue this year. This number should only increase as the company continues to grow and also add new features to its existing offering.
Anghami is also the lucky recipient of a hefty investment from Dubai-based SHUAA Capital. The company partnered with the Anghami team to secure a PIPE investment of about $40 million.
It’s been a busy couple of years for Anghami. A recent merger and acquisition reshape has refocused its wares to an extent and recast it as a high octane, high growth, high touch entity. This may have sparked a bit of an anti-trust fever, but as of this writing the company is a sexier incarnation of itself. The company’s most notable kin is the Vistas Media Acquisition Company, the parent of Anghami, the latter of which has been hail as the undisputed champion of the MENA app ecosystem. For the record, no Anghami employees are allowed to wear the aforemention cap.
Middle East and North Africa
In the Middle East and North Africa (MENA), Anghami has become the region’s leading music streaming platform. Founded in Lebanon in 2012, Anghami now has offices in 16 countries across the region. It boasts more than 70 million registered users and has an expansive library of more than 30 million songs. The company plans to expand its global reach by launching a range of “live” products that allow listeners to tune into user-hosted concerts and radio shows.
Arabic Digital Content
While Anghami’s growth is fuel by the rising demand for Arabic digital content, the company is also leveraging the power of local artists and labels. As such, it has announced several initiatives to enhance its position as a top-of-the-line provider of digital entertainment in the MENA region.
Anghami’s partnership with Amr Diab, the most streamed artist on its platform, was the first of these initiatives. Through this exclusive relationship, Anghami will bring the legendary singer’s audio and video catalogue to its platform.
Anghami has also invested in local artists. The company has worked with leading local and international labels to develop catalogues of songs from the region. One of the most exciting new initiatives Anghami has announced is a joint venture with Sony Music to launch a boutique record label, Vibe.