Page 28 - SAMENA Trends - April-May 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Mobily and Nokia Achieve the Highest Throughput
with mmWave in its Live 5G Network in Riyadh

Nokia’s compact AirScale mmWave radio continued efforts in this direction, and the densified locations. We are proud to have
provides extreme 5G capacity in densified highest throughput achieved in the trial collaborated with Mobily on the evolution
locations Alaa Malki, CTO, at Mobily, said: allows us to deliver high-capacity wireless of its 5G network through this mmWave
“We are committed to proving world-class, broadband access to our subscribers trial, achieving the highest speed for them
pioneering services to our customers in high-density areas.” Tareq Khalaf, to enable innovative 5G services in busy
by bringing the latest innovations to the customer Team Head of Mobily, at Nokia, locations for people and businesses.”
Kingdom of Saudi Arabia. This successful said: “Extreme network capacity and speed
trial with Nokia is testament to our are essential to enable new 5G services in

Mobily Ventures Celebrates its Investment, Anghami, Becoming First Arab

Technology Company to List on NASDAQ New York

Anghami Inc, the leading music streaming around 1 billion streams per month. With and download. Anghami has licensing
platform and service in the Middle East an Arabic speaking population of over agreements with thousands of independent
and North Africa (MENA) and Vistas Media 450 million globally, a listing on NASDAQ labels and distributors to provide users
Acquisition Company Inc. (NASDAQ: allows Anghami to scale its user base and with legal access to a vast catalog of
VMAC), a publicly-traded special purpose invest in technology to build on its data music. The Company is headquartered
acquisition (SPA) company, announced play. Anghami's artificial intelligence (AI) in Abu Dhabi, at the Abu Dhabi Global
that they have entered into a definitive and machine learning (ML) algorithms Market (“ADGM”), and has offices in
merger agreement that will result process over 56 million data points from Beirut, Dubai, Cairo and Riyadh. Anghami
in Anghami becoming the first Arab its user base every day. Over nine years is currently backed by leading MENA VC
technology company to list on NASDAQ. of user data enables the Company to firms and strategic shareholders, including
The transaction implies a pro-forma predict user behavior and trends to focus media groups and telecommunications
enterprise value of $220 million. The its investments in areas delivering the companies, including Mobily’s corporate
combined company will operate under the highest return on investment - which helps VC arm Mobily Ventures, that collectively
Anghami name and will trade under the improve monetization - and will continue own approximately 68% of Anghami,
new symbol “ANGH.” The transaction is to be a key driver of revenues going with the balance owned by the founders.
expected to close in Q2 of 2021. Founded forward. The Company has long-standing Co-founder and CEO of Anghami, Eddy
in 2012, by Eddy Maroun and Elie Habib, partnerships with all major global labels Maroun, commented, “Today is a very
Anghami is the first music-streaming including Universal Music Group, Sony exciting day for all of us at Anghami and
platform in the MENA region. Anghami Music and Warner Music Group. Anghami our partners globally. Elie and I co-founded
has built a market-leading platform, is a music app and platform that offers the company in 2012 with a vision for
offering more than 57 million songs to listeners in the MENA region unlimited Anghami to be a first of its kind, digital
more than 70 million registered users with Arabic and international music to stream media entertainment technology platform
in the MENA region. Today, we have taken
a significant step forward in our growth
plans in seeking to become the region’s
first Arab technology company to list
on NASDAQ. Being a U.S. listed public
company gives us access to growth capital
and a global platform that is the best in the
world.” Elie Habib, Co-founder, Chairman
and CTO of Anghami, added, “We’re proud
of the product and technology we’ve been
able to build and now we will have the
ability to invest more in R&D and innovate
providing a product that goes beyond
music to immersive experiences around
media and entertainment while remaining
relevant to our users and focused on our

28 APRIL-MAY 2021