RiseUp acquires MENAbytes
Egypt-based RiseUp, the organiser of the Middle East and North Africa’s (Mena) largest startup and entrepreneurship summit, has acquired MENAbytes, a Saudi-based startup and technology publication for an undisclosed sum. The acquisition also includes trackMENA, a new data platform by MENAbytes to help users track startups, venture capital (VC) firms, investments and acquisitions in Mena.
Founded in mid-2017 by Zubair Naeem Paracha, MENAbytes has recently expanded its coverage to Pakistan and is looking to further expand it to Turkey and some other emerging markets.
Paracha will join RiseUp as a result of the acquisition and continue to lead MENAbytes, trackMENA and some other digital efforts of the company.
“It made a lot of sense to partner with RiseUp. They want to build a platform with both online and offline resources for entrepreneurs in Mena and other emerging markets and that's what I always wanted to do with MENAbytes,” said Zubair Naeem, founder of MENAbytes. “RiseUp already has the offline part figured out. And MENAbytes has been doing well on the digital front. Joining forces would help both the companies.”
MENAbytes will remain an independent media platform while also integrating with RiseUp’s digital content arm to design a fully integrated platform.
“We’re immeasurably excited about the opportunities MENAbytes will offer RiseUp.” said Abdelhameed Sharara, chief executive officer at RiseUp. “The acquisition, and working with Zubair, is the first big leap in our vision of being a one-stop shop for the entire spectrum of resources entrepreneurs and startups in the region need to grow.”