Majarra raises funding from US-based North Base Media
- UAE-based Arabic content platform Majarra has raised an undisclosed investment from US-based VC fund North Base Media. The funding round saw participation from a group of GCC-based investors.
- Majarra offers subscription sign-on to a network of online content platforms in Arabic, including Harvard Business Review Arabia, MIT Technology Review Arabia, Stanford Social Innovation Review Arabia, Popular Science, Fortune and Manhom.
Source: Arabian Business
US-based global digital media investor North Base Media (NBM) announced on Thursday an investment in Abu Dhabi-based Majarra, an Arabic online content provider.
Other investors included strategic GCC individuals, according to a statement.
“We’re delighted to have a high quality and specialised investor like North Base Media as a believer in our vision for a new business model that addresses the massive inefficiency of Arabic online content,” said Abdulsalam Haykal, Majarra’s executive chairman.
“NBM’s global perspective and unique insight into the industry strengthens our commitment to deliver the best content and user-experience for the Arabic-speaking internet users in the region and around the world.”
Majarra, formerly Haykal Media, announced earlier this year a plan to offer a single-subscription sign-on to a network of reliable, high-quality online content platforms in Arabic.
The network so far includes Harvard Business Review Arabia, MIT Technology Review Arabia, Stanford Social Innovation Review Arabia, Popular Science, Fortune, and Manhom, the largest professional profiles service in the Arabic language.
“We’re really thrilled to partner with Majarra,” said Marcus Brauchli, NBM’s managing partner. Brauchli, a former editor of both The Wall Street Journal and The Washington Post, will join Majarra’s board of directors.
“We look for partners that combine content and technology to unlock the power of the internet in high growth markets. Majarra combines a bold business vision, a solid track record, and a strategic approach to addressing the demand for quality Arabic-language content.”
Michael Garin (pictured above), CEO of twofour54 Abu Dhabi, said: “There is real untapped potential within media and entertainment when it comes to Arabic content – particularly online. At twofour54, we’re proud to see international players realising this growth opportunity and joining forces with leading regional platforms, such as our partner Majarra, to provide quality Arabic content for the 420 million-plus Arabic speakers around the world.
"This is a high-impact investment both in terms of the growth and development of the knowledge economy in our region, and also in helping unlock the potential of digital Arabic content.”