Webe­dia Ac­quires Ma­jor­ity stake in Di­wa­nee

Arabnet - The Quarterly - - Industry Stories -

Dubai-based dig­i­tal me­dia com­pany Di­wa­nee has dis­closed its ma­jor­ity ac­qui­si­tion by Webe­dia. There are no con­firmed num­bers yet, but ru­mors place the val­u­a­tion be­tween $20 mil­lion and $50 mil­lion, which makes this in­vest­ment one of the big­gest for a dig­i­tal com­pany in the Mid­dle East. Webe­dia’s web­sites, which are mainly fo­cused on fash­ion and glam­our, re­ceives over 40 mil­lion monthly unique vis­i­tors. Di­wa­nee has over 5 mil­lion monthly unique vis­i­tors on its sites, which in­clude fash­ion and beauty por­tal Yas­mina. com, fam­ily por­tal 3a2i­lati.com, fash­ion e-com­merce site Mooda.com, en­ter­tain­ment por­tal Wi­keez, and recipe site Atyabtabkha.com. Webe­dia will also in­ject an ex­tra $5 mil­lion USD to help Di­wa­nee bol­ster their ex­pan­sion, share their big data anal­y­sis tools, and more.

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