Established in December 2012 by co-founders Elie Habib and Eddy Maroun, Anghami is a mobile app that lets users download and listen to Arabic and international music on their cellphones. It is now the most downloaded music app in the Middle East, with 3.4 million users. Anghami is a start-up success story that benefited from Lebanon’s support infrastructure. “Over the last couple of years there has been an ecosystem starting in the region,” says Habib. Anghami raised its first round of funding — $1 million — from venture capital firm Middle East Venture Partners (MEVP). It is now finalizing its second round of funding with a Saudi company for $1.5 million. According to Habib, the company’s valuation has multiplied by five since it was founded last year. In October they joined the network of Endeavor, an entrepreneurship-advancement non-profit which helps companies grow. Since May they have expanded from three to
[…] Ventures. It was reported that they were looking to finalize their second round with an additional $1.5 million, but the amount that they received was never publicly […]
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[…] Ventures. It was reported that they were looking to finalize their second round with an additional $1.5 million, but the amount that they received was never publicly […]
Comments are closed.