What’s good, Lebanon? Anghami: first Lebanese Company to Join NASDAQ
Last month, a significant Lebanese milestone was reached: the Lebanese leading platform for music streaming in the Middle East and North Africa “Anghami” became the region’s first tech company to hit the charts on New York’s Nasdaq stock exchange.
The app has been doing quite well recently. Founders Elie Habib and Eddy Maroun took the company from a small local platform to a music streaming leader that rivals even the mighty “Spotify”. Anghami moved its headquarters to Abu Dhabi to grow the business with the support of the Emirati city, which gave it the resources it needed to expand.
Today, the app boasts over 70 million registered users, and its value has reached over $220 million after a merger with blank-check company Vistas Media Acquisition Company Inc.
In a quote to Lebanese news platform The961, co-founder, chairman, and CTO Elie Habib stated:
“Going global on the NASDAQ allows us to supercharge our growth, and move deeper into the Middle East & beyond. There are also tremendous opportunities that have been untapped because we had a laser focus on pure music. The team is excited to build new products that expand on what we’ve learned. […] We are looking forward to investing into Arabic content and creating music as well as shows that connect with the youth of this region.”