Finally proving that it is possible to start up, scale and sell in the country, Lebanon saw its first major acquisition in the tech and digital sector a few weeks ago, as French digital publishing company Webedia acquired Diwanee, a Lebanese digital media company that specializes in content creation targeting women in the Middle East. According to estimates published by regional startup news platform Wamda and a source contacted independently by Executive, the investment range is between $12 million and $16 million for a majority equity stake between 50 and 60 percent. The company’s valuation falls between $23 million and $33 million. The Diwanee team has not revealed any specific numbers, but admits that estimates are not far off. Dream big The team describes the acquisition as a small victory, after trying to secure large-scale funding for a long time. “From day one we had a pretty ambitious project. The difficulty
