Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Investment bankingApril 14 2022

Can an IPO make Anghami a Middle East media giant?

The music technology company has bold plans for the future, boosted by its recent public listing on Nasdaq. Shanny Basar reports.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Can an IPO make Anghami a Middle East media giant?

In February, Anghami, dubbed ‘the Middle Eastern Spotify’, became the first Arab technology company to list on Nasdaq. Co-founder and chief technology officer Elie Habib has a vision of the next megahit, along the likes of ‘Despacito’, coming from the Middle East. Despacito set a record as the most-streamed song just six months after its release in January 2017 and three years later it reached seven billion views on YouTube.

“The biggest concert in the world was in Saudi Arabia in December 2021, not Coachella, and we want everyone to realise that the Middle East has a vibrant and growing music scene,” says Mr Habib.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial