Start-up firm set to post Dhs100m in revenues

DUBAI: Start-up company ITCAN, a full-service Technology and Digital Marketing company, has announced that it is close to earning Dhs100 million this year since its launch in Dubai. The milestone is about to be reached against the backdrop of growing e-commerce activities in the UAE and Saudi Arabia as noted by a recent report by the World Economic Forum.

Across the GCC, a study by AT Kearney predicted that the value of the e-commerce market would amount to $20 billion by 2020. The UAE, according to the same study, is the most advanced e-commerce market in the region, with a penetration rate of 4.2 per cent, like that of Turkey and Brazil. Saudi Arabia at 3.8 per cent closely follows the UAE. According to the firm, its massive expansion is expected this 2020 in terms of earning potential, market reach and new offerings.

Mansour Althani, CEO and Co-founder of ITCAN, said: “Starting with zero capital, ITCAN has remained a self-funded company until today. It was a challenging start for us when we launched our operations, but we have nonetheless gained traction over the years. The e-commerce segment continues to be a fertile ground for growth as more and more shoppers go online to look for high-quality and cost-effective products.”

He added. “We will continue to take advantage of the sector’s growth opportunities. As digital marketing leaders, we will scale online retail businesses that are looking to increase their profitability, customer base, and expand their presence in the Middle East region through our transformative performance marketing service.