{"id":560576,"date":"2021-03-04T03:59:11","date_gmt":"2021-03-04T03:59:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/"},"modified":"2021-03-04T03:59:11","modified_gmt":"2021-03-04T03:59:11","slug":"anghami-eyes-egypt-growth-after-nasdaq-spac-listing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/","title":{"rendered":"Anghami eyes Egypt growth after Nasdaq SPAC listing"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Anghami has plans to expand in Egypt after it beco<\/strong><strong>mes the Middle East\u2019s first tech company to list in New York <\/strong>with plans to merge with Nasdaq-listed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a6ab3251-641a-4e2c-aa00-6b8486d10c68\">SPAC<\/a> Vistas Media Acquisition Company, it said in a statement carried by several press outlets (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-03-03\/mideast-spotify-challenger-anghami-is-said-to-near-spac-merger?sref=mmeFTDW1\">Bloomberg<\/a> | <a href=\"https:\/\/www.reuters.com\/article\/anghami-listing\/spotify-competitor-anghami-to-become-first-arab-tech-company-to-list-on-nasdaq-idUSL3N2L1194\">Reuters<\/a>). The streaming service, which has over 70 mn registered users and is used all over MENA, could be valued at c.USD 300 mn when the process wraps up, Bloomberg quoted sources in the know as saying. As part of the agreement, Anghami secured a USD 30 mn commitment from the UAE\u2019s Shuaa Capital and USD 10 mn from Vistas\u2019 parent in \u201cPIPE\u201d (<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8eef3c40-2b12-4e25-a16b-fb8ee9063438\">private investment in public equity<\/a>) financing. Anghami\u2019s topline rose 80% in 2020, and expects a 5x increase over the next three years, as paid streaming grew popular in recent years, and more so during the pandemic.<\/p>\n<p><strong>The announcement comes a little over a month after Shuaa <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6ed056d5-20a3-4bb1-baa8-6574969ac1c1\">acquired a minority stake<\/a><\/strong>, adding its name to regional venture capital firms and strategic investors that control a combined 68%. The shareholders include Middle East Venture Partners, Samena Capital, Emirates Integrated Telecommunications, MBC Group, and Etihad Etisalat, according to Bloomberg. Lebanese founders Ellie Habib and Eddy Maroun control the remaining shares.<\/p>\n<p><strong>Big plans for Egypt: <\/strong>Part of the proceeds from the listing, which could happen <a href=\"https:\/\/gulfnews.com\/business\/markets\/middle-easts-music-streaming-portal-anghami-to-list-on-nasdaq-new-york-in-june-1.1614769434943\">as early as June<\/a>, will be used for recruitment and investment in key markets including Egypt and Saudi Arabia, Habib said. \u201cBeing a US listed public company gives us access to growth capital and a global platform that is the best in the world,\u201d the co-founder and CEO added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Anghami has plans to expand in Egypt after it becomes the Middle East\u2019s first tech company to list in New York with plans to merge with Nasdaq-listed SPAC Vistas Media Acquisition Company, it said in a statement carried by several press outlets (Bloomberg | Reuters). The streaming service, which has over 70 mn registered users [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":560577,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[534,72,125,78,120,439],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-anghami","tag-enterpriseam","tag-investment-watch","tag-ipo-watch","tag-nasdaq","tag-spacs","wpautop","entry"],"acf":{"mongo_id":"7268870a-5759-4109-9e42-9a87f9958984","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/89.jpg","photo_position":"above","related_issue":[560571],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Anghami eyes Egypt growth after Nasdaq SPAC listing - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anghami eyes Egypt growth after Nasdaq SPAC listing\" \/>\n<meta property=\"og:description\" content=\"Anghami has plans to expand in Egypt after it becomes the Middle East\u2019s first tech company to list in New York with plans to merge with Nasdaq-listed SPAC Vistas Media Acquisition Company, it said in a statement carried by several press outlets (Bloomberg | Reuters). The streaming service, which has over 70 mn registered users [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-04T03:59:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/89.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Anghami eyes Egypt growth after Nasdaq SPAC listing\",\"datePublished\":\"2021-03-04T03:59:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/\"},\"wordCount\":272,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/89.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Anghami\",\"EnterpriseAM\",\"investment watch\",\"IPO watch\",\"Nasdaq\",\"SPACs\"],\"articleSection\":[\"Investment Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/\",\"name\":\"Anghami eyes Egypt growth after Nasdaq SPAC listing - 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The European Bank for Reconstruction and Development (EBRD) and Teklas Ventures,\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/61.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545023,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/31\/swvl-to-debut-on-the-nasdaq-today-after-spac-merger-approved\/","url_meta":{"origin":560576,"position":2},"title":"Swvl to debut on the Nasdaq today after SPAC merger approved","author":"enterpriseam admin","date":"31 March 2022","format":false,"excerpt":"Swvl is making its landmark Nasdaq debut today: Shares in Egypt-born, UAE-based mass transit app Swvl will start trading on the Nasdaq today, Swvl CFO Youssef Salem confirmed to Enterprise, after shareholders in its SPAC Queen\u2019s Gambit Growth Capital approved the move in a general assembly meeting yesterday. Swvl is\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/712.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542900,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/23\/anghami-takes-one-step-closer-to-its-spac-listing-uaes-masdar-has-big-growth-plans\/","url_meta":{"origin":560576,"position":3},"title":"Anghami takes one step closer to its SPAC listing + UAE\u2019s Masdar has big growth plans","author":"enterpriseam admin","date":"23 January 2022","format":false,"excerpt":"Anghami takes one step closer to its SPAC listing: The streaming platform\u2019s merger \u2014 which would value the company at around USD 220 mn \u2014 with blank-check firm Vistas Media Acquisition Company was approved by Vistas shareholders at a special stockholders meeting last week, the companies announced in a joint\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544659,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/15\/swvl-expects-us-regulators-to-greenlight-its-nasdaq-ipo-today\/","url_meta":{"origin":560576,"position":4},"title":"Swvl expects US regulators to greenlight its Nasdaq IPO today","author":"enterpriseam admin","date":"15 March 2022","format":false,"excerpt":"Mass transportation startup Swvl expects to receive final approvals on its IPO from the US\u2019 Securities and Exchange Commission (SEC) today, CFO Youssef Salem told Enterprise. The Egypt-born ride-hailing app is set to go public on the Nasdaq through its merger with US SPAC Queen\u2019s Gambit Growth Capital by the\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/183.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542803,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/egypts-first-ever-spac-to-list-on-egx-by-next-month-omran\/","url_meta":{"origin":560576,"position":5},"title":"Egypt\u2019s first-ever SPAC to list on EGX by next month -Omran","author":"enterpriseam admin","date":"18 January 2022","format":false,"excerpt":"Make way for our first SPAC: Egypt\u2019s first blank-check company will be established within the next month, Financial Regulatory Authority (FRA) chief Mohamed Omran told Bloomberg Asharq yesterday. \u201cAt the end of this month or early next month, we will have the first blank check company,\u201d he said. The SPAC\u2026","rel":"","context":"In &quot;EGX&quot;","block_context":{"text":"EGX","link":"https:\/\/enterpriseam.com\/egypt\/category\/egx\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/203.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560576","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=560576"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560576\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560571"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/560577"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560576"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560576"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}