News

Twitter Verification Costs More For Middle Eastern Firms

Businesses and organizations in several MENA countries will be charged more for verification than their counterparts in the USA.

Published

1 year ago

April 8, 2023

Nour Nasir

twitter verification costs more for middle eastern firms

Twitter’s blue badge system, Twitter Verification, is the company’s way of signifying whether a public interest account is authentic. Last year, after Elon Musk’s $44 billion acquisition of the social media platform, the blue tick was removed from accounts and replaced with subscription-based badges.

In December, Twitter introduced three new verification badges in different colors:

A gold tick for business organizations.
A gray tick for government-affiliated accounts.
A blue tick for individuals.

However, as the new verification system rolls out, Twitter users in Saudi Arabia have noticed that prices are an estimated 6.7% more than for US businesses.

The standard price for a business or organization is $1,000 for a monthly subscription and an additional $50 per month for each affiliate. On the other hand, Saudi Arabian organizations will have to stump up $1,066.67 and $53.55, respectively.

Also Read: Web Summit Expands With New Middle East Event In Qatar

UAE organizations will also have to pay more for verification, with monthly subscription costs climbing to $1,007.49. Qatar accounts will also pay more at $1,016.48, while those in Egypt will be charged $1,003.35. Interestingly, all other MENA countries will pay the standard $1,000 per month subscription and $50 monthly affiliate fee.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

2 days ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.