Anghami Becomes First Arab Tech Company To Get Listed on NASDAQ NY

Anghami has officially completed a merger with Vistas Media Acquisition Co. Inc., a publicly traded special-purpose acquisition company and is now the first ever Arab technology company to list on NASDAQ New York.

The transaction is expected to close in Q2 of 2021 and will value the company at between $220 million and $230 million according to co-founder and CEO of Anghami Eddy Maroun.

Anghami has recently moved its headquarters from Beirut to Abu-Dhabi, and is set to expand into new markets in the coming months. The streaming app’s revenue has grown 80 percent over the last three years and is forecast to increase five-fold over the next three years.

All in all, this is amazing news! Best of luck to Eddy Maroun, Elie Habib and all the Anghami team.