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Anghami & OSN+ Announce Landmark Investment Deal

The collaboration will result in the first MENA platform to provide video and music, backed by a $50 million cash injection.

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anghami and osn+ announce landmark investment merge deal

Leading MENA streaming platform Anghami has announced a milestone deal that will see the music and entertainment company join forces with video provider OSN+.

According to a recent press release, combining the two home-grown brands will “offer consumers unprecedented digital aggregation of the best and latest in premium movies, TV shows, music, podcasts, and more while providing a rich and seamless user experience”.

When the collaboration is completed, Anghami will become one of the region’s largest streaming platforms, augmenting its already massive catalog of 100 million songs with 18,000 hours of video from OSN+, including content from HBO, NBC Universal, Paramount, and leading MENA studios.

anghami and osn+ announce landmark investment deal

Elie Habib, co-founder of Anghami and soon-to-be CEO of the combined venture, commented: “Joining forces with OSN+ is a leap in Anghami’s journey to reinvent entertainment in the Arab world. We’re combining technology, music, and video to build a comprehensive media ecosystem. It’s a chance to deepen our connection with our users and create something they will love”.

Joe Kawkabani, CEO of the OSN Group, added: “This is a major milestone in OSN’s journey as we continue to scale up our streaming business. Combining OSN+ content with Anghami’s technology enables us to deliver the best of entertainment all in one place for our customers, ensuring we are continuously evolving our offering to meet their needs. As two home-grown entities with an unmatched understanding of the local market, we are confident that this new offering will change the face of the regional streaming landscape”.

Also Read: Top 10 Best Freelance Platforms In The Middle East

The OSN Group has pledged to invest in Anghami at $3.65 per share — nearly four times the average price for the past month. The full transaction is expected to close in Q1 2024, at which point OSN will own a majority stake in Anghami.

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Rabbit Expands Hyperlocal Delivery Service In Saudi Arabia

The e-commerce startup is aiming to tap into the Kingdom’s underdeveloped e-grocery sector with a tech-first, locally rooted strategy.

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rabbit expands hyperlocal delivery service in saudi arabia
Rabbit

Rabbit, an Egyptian-born hyperlocal e-commerce startup, is expanding into the Saudi Arabian market, setting its sights on delivering 20 million items across major cities by 2026.

The company, founded in 2021, is already operational in the Kingdom, with its regional headquarters now open in Riyadh and an established network of strategically located fulfillment centers — commonly known as “dark stores” — across the capital.

The timing is strategic: Saudi Arabia’s online grocery transactions currently sit at 1.3%, notably behind the UAE (5.3%) and the United States (4.8%). With the Kingdom’s food and grocery market estimated at $60 billion, even a modest increase in online adoption could create a multi-billion-dollar opportunity.

Rabbit also sees a clear alignment between its business goals and Saudi Arabia’s Vision 2030, which aims to boost retail sector innovation, support small and medium-sized enterprises, attract foreign investment, and develop a robust digital economy.

The company’s e-commerce model is based on speed and efficiency. Delivery of anything from groceries and snacks to cosmetics and household staples is promised in 20 minutes or less, facilitated by a tightly optimized logistics system — a crucial component in a sector where profit margins and delivery expectations are razor-thin.

Despite the challenges, Rabbit has already found its stride in Egypt. In just over three years, the app has been used by 1.4 million customers to deliver more than 40 million items. Revenue has surged, growing more than eightfold in the past two years alone.

Also Read: Top E-Commerce Websites In The Middle East In 2025

CEO and Co-Founder Ahmad Yousry commented: “We are delighted to announce Rabbit’s expansion into the Kingdom. We pride ourselves on being a hyperlocal company, bringing our bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households, and delivering the best products – especially local favorites, in just 20 minutes”.

The company’s growth strategy avoids the pitfalls of over-reliance on aggressive discounting. Instead, Rabbit leans on operational efficiency, customer retention, and smart scaling. The approach is paying off, having already attracted major investment from the likes of Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital, alongside earlier investors such as Global Founders Capital, Goodwater Capital, and Hub71.

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