Anghami, the first music-streaming platform in the MENA region, will soon also become the first Arab technology company to list on NASDAQ New York via a merger with Vistas Media Acquisition Company Inc., a publicly-traded special purpose acquisition company.
“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,” said Anghami co-founder Eddy Maroun. “Being a US-listed public company gives us access to growth capital and a global platform that is the best in the world.”
Anghami, which translates into “my tunes” in Arabic, was founded in 2012 by Maroun and his fellow Lebanese entrepreneur Elie Habib, providing convenient access to Arabic and international music alike. Over the years, the platform has become the leader in the MENA region, offering around 60 million songs to more than 70 million registered users.
In early 2021, Anghami moved its headquarters to Abu Dhabi, after a partnership with the Abu Dhabi Investment Office. The merger with Vistas Media Acquisition Company Inc. implies an initial pro-forma valuation of around $220 million. The music-streaming platform will continue to operate under its name and trade under the symbol “ANGH”.
“This is a landmark transaction for the MENA region and for Vistas,” commented Saurabh Gupta, co-founder of Vistas Media Acquisition Company Inc. “The combination of Anghami and the Vistas team will be a powerful force in the media and entertainment world, and we couldn’t be prouder of the hard work from everyone to get to this stage, but our work has only just begun.”
Anghami founders would like to use the new funding to not only attract additional customers from the MENA region, but they would also like to expand into new markets and compete with services like Spotify and Deezer, both of which are significantly more popular outside the Middle East.
Samsung Galaxy Unpacked Event Will Take Place On August 11
In addition to 2 new foldable smartphones, you can also look forward to the Galaxy Watch 4 and the Galaxy Buds 2.
After several leaks, Samsung has officially confirmed the date and time when its upcoming Galaxy Unpacked event will take place: August 11, 2021 at 10 AM EST.
Besides the confirmation, Samsung has rewarded its fans for their patience by releasing an official trailer that hints at the products that will soon be revealed in their full glory.
“Change is the only constant in the world of innovation. By driving new ideas forward and transforming existing experiences, it redefines the boundaries of what’s possible,” the official press release says. “As the excitement for the upcoming Galaxy Unpacked on August 11 continues to build, Samsung Electronics has released a trailer teasing the surprises that lie in wait for Galaxy fans.”
The products teased by the trailer are the Galaxy Z Fold 3 and the Galaxy Z Flip 3 (check out the complete leaked Galaxy device lineup). Both are foldable smartphones, but each targets different customers.
The Galaxy Z Fold 3 folds along the vertical axis, and it’s expected to boast a huge 7.7-inch interior display and a smaller exterior display, giving users plenty of screen real estate for basic apps and multimedia alike. It could be Samsung’s first smartphone with an under-display camera, and it will certainly be powered by Qualcomm’s top-of-the-line processor.
As the name suggests, the Galaxy Z Flip 3 folds along the horizontal axis, allowing it to comfortably hide even inside the tiny pockets so many women’s pants come with. Just like its larger relative, it will come with flagship specifications, so playing the latest games or taking beautiful pictures at night shouldn’t be a problem.
In addition to the two foldable smartphones, you can also look forward to the Galaxy Watch 4 and the Galaxy Buds 2.
How To Watch The Samsung Galaxy Unpacked Event
The Samsung Galaxy Unpacked event will be accessible only to online viewers, and you’ll be able to tune it either directly from Samsung.com or on YouTube.