(Updated) Confirmed: Breaking: Yahoo Acquires Maktoob The Largest Arab Portal, at an Estimated 100 Million USD
Update: Video Interview here.
More Updates here: Jabbar acquired e-Marketing MENA.
Update: Yahoo press release is the the end of this post, Financial terms were not disclosed, but my sources say the deal is over than 100 million.
Update: As we said other Maktoob websites that are not branded under Maktoob will be called “Jabbar” a new company separate from Yahoo! (souq.com, Cashu, tahadi MMO games, Araby.com and Maktoob Research.) maktoob.com will be called Yahoo Middle East and products will be cobranded Yahoo and Maktoob. ( ArabCrunch was 1st to break the acquisition deal world wide.)
Update: It is official, YAHOO buying maktoob! Yahoo has 20 million users in the Arab world maktoob 16 million according to Maktoob Business.
Update: After 2 days Yahoo products will be made Arabic and content Arabized. Yahoo Messenger and Yahoo Mail will be first to be Arabized.
Keith Neillson VP emerging markets Yahoo! was speaking spoke during the press conference.
Updates before the press conference confirmation:
Update1: Story is folding, Yahoo will announce in a press conference shortly.
Update2: The number is bigger than 100 million USD, a source told AC was told.
Update 3: The deal will include maktoob.com but not maktoob group as I was told, stay tuned for updates here.
The talks between Yahoo and Maktoob have been around for 2 years now, but in the last few months, it was confirmed to ArabCrunch that the talks are serious.
Yesterday 24th of August 2009 was historical day for the Arab Internet and Tech industry if the news tips we got were proven to be right (Confirmed and the press conferences is up now), as according to reliable sources Yahoo team signed a deal to acquire Maktoob the largest Arab portal yesterday, the price is not clear but estimated at around 100 million USD. (Update: Financial terms were not disclosed, but my sources say they are more than 100 million USD.)
Update: According to the sources, there will be a press conference soon with half an hour.
This deal is significant, because it is the largest acquisition that happened in the tech sector in the Arab world since ever. It means allot, now Venture Capitalist (VC) and investors will see that there is an exit in funding they put into startups from the Arab world. Which means there will be more VCs and funding activities happing in the Arab world, which means more Arab startups and more jobs!
What we need next, is to see a world class IPO for an internet or a technology startup from the Arab world especially in the Internet space.
Maktoob started back around 1997 as the first Arabic web-based email, founded in Amman, Jordan by Samih Toukan and Husam Khouri. The web-based email reached around 115000 users within a year, the company received funding from EFG HERMEZ and then Abbraaj Capital which sold its equity to Tiger Global Management. Maktoob now operates over a dozen of websites under Maktoob brand ranging from search (via Araby.com) web mail, social networking, blogging platform, sports, Q&As, photo and video sharing. Today Maktoob visitors stand around 16 million a month, as the largest portal in the Arab world from the Arab world.
Official press release from Maktoob Business:
“RELEASE: Yahoo! Maktoob acquisition
Aug 25, 2009
Yahoo! to Extend Reach to Millions of Consumers in the Arab World; Signs Definitive Agreement to Acquire Maktoob.com
Combination of local expertise and global scale to provide best online experience for consumers in the Arab world and platform for advertisers in the region
SUNNYVALE, Calif. & DUBAI, Aug 25, 2009 — Yahoo! Inc. (Nasdaq:YHOO) today announced it has entered into a definitive agreement to acquire Maktoob.com, the leading online community in the Arab world, with more than 16.5 million unique users.
“This acquisition will accelerate Yahoo!’s strategy of expanding in high-growth emerging markets where we believe Yahoo! has unparalleled opportunity to become the destination of choice for consumers,” said Yahoo! chief executive officer Carol Bartz. “Access to information and communications tools can positively impact people’s lives in many ways, and with the acquisition of Maktoob.com and our investment in the region, the Arab world will soon get a Yahoo! experience in Arabic with relevant local language content, programming and services.”
Internet users in the region will benefit from the combination of Yahoo!’s popular products and services with Maktoob’s compelling local content, which today reaches one in three people online throughout the Arab world. This acquisition will extend Yahoo!’s current offerings by adding capabilities to deliver relevant Arabic-language content and services, as well as Arabic versions of Yahoo!’s popular Yahoo! Messenger and Yahoo! Mail services. Maktoob.com is accessed by users in countries that include UAE, Jordan, Kuwait, Egypt and Saudi Arabia.
“Yahoo! and Maktoob are natural partners and this combination should help energize the Internet market in the region as a whole. We are excited about Yahoo! building a stronger presence in the Middle East and bringing its compelling suite of services to Arab users in Arabic,” said Samih Toukan, Founder of Maktoob.
While Internet usage in the Middle East has grown more than tenfold since 2000, most markets are still in the early stages of adoption. According to the World Bank, there are more than 320 million Arabic speakers worldwide, while less than one per cent of all online content is in Arabic.
With Yahoo! and Maktoob.com’s combined audience and platform, advertisers will have access to the reach and sophisticated targeting capabilities they need to effectively engage with the region’s online consumers. Spending on online advertising is expected to grow by 35 – 40 percent this year in the region, according to Madar Research.
“Internet users in the Arab world will have access to Yahoo!’s vast content portfolio, as well as world-class communications products, which will be available in Arabic for the first time. In addition, advertisers will be able to leverage the vast reach of the newly combined audiences to effectively market to consumers across the region,” said Ahmed Nassef, general manager of Maktoob.com.
Maktoob.com was founded in 2000 by Samih Toukan and Hussam Khoury as the world’s first free Arabic/English Web-based email service, and since then has grown to be the leading Arab online community in the region.
“Yahoo is acquiring Maktoob.com for the strong brand and audience it has built over the last nine years and the passionate team they have assembled, which we believe is the strongest in the region,” said Keith Nilsson, senior vice president, Emerging Markets, Yahoo! “We see great growth potential in both audience and advertising in the Arab world and combining with Maktoob.com will allow us to quickly build our presence there with high quality products. This is a big win for publishers, advertisers, and consumers in the region.”
This acquisition is part of Yahoo!’s larger strategy to grow its business throughout the world’s emerging markets by connecting consumers with the content and services that matter most to them in their local language. The company’s Emerging Markets business group, headquartered in Singapore, is responsible for Yahoo!’s fastest growing markets such as South East Asia, India, Latin America, Africa, and the Middle East. Yahoo! has a strong track record of delivering great Internet experiences and helping fuel Internet adoption through partnerships with local developers and content providers.
Following the acquisition, Maktoob.com will become a wholly-owned subsidiary of Yahoo!. Ahmed Nassef, the current general manager of Maktoob.com, will continue to lead the Maktoob.com teams and will report to Keith Nilsson. It is expected that the transaction will be completed in the fourth quarter of 2009.
Upon completion of the deal, the remaining Maktoob Group companies – including Souq.com, cashU.com, Araby.com, and Tahadi.com – will operate under a new entity called the Jabbar Internet Group, managed by Samih Toukan. Yahoo! and the Jabbar Internet Group will continue to have a strong commercial relationship going forward, which will include the promotion of Jabbar companies on the Maktoob.com portal.
Financial terms were not disclosed.”
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100,000,000 is not rite, the real number should be near 30,000,000
Great news
@someone: I think you dropped a zero in your estimated number, 100 million doesn't sound right for the largest Arab portal.
This is really amazing,, i am so proud of those guys Samih and Husam, and i am sure that they put this acquisition in fron of their eyes when they started maktoob at the first beginning, it's just because they dreamed, they thought about it, started it, and did their best to be now the class A in Arab technology.
As an Arab guy, i would like to thank Samih and Husam, and thank the great team behind maktoob, because they approved to everyone that Arabs still can do something remarkable.
i am really touched
All the best
Saleh Dawabsheh
Global Software Services Inc.
[...] encompasses a variety of services including search, Email, social network, and more. As reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears to be [...]
according to an inside person in maktoob, the number is higher than 100 million and the acquisition does not include souq.com,cashu.com or tahadi.com
[...] encompasses a variety of services including search, Email, social network, and more. As reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears to be [...]
[...] encompasses a variety of services including search, Email, social network, and more. As reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears to be [...]
[...] the last hour they reached a head as news of an impending press conference broke. While some have reported that the acquisition price was over $100 million, we’ve heard that the actual number was $85 [...]
what a wonderful news ….. YES, it is the time to show the world what Arabs can do something … we are back to do actions and make changes!
I am really proud with this….
thank you MAKTOOB!
& congratulation to Maktoob team…
& congartualtion to Riham. B and Maumon:-)
love, peace and respect
Fufu
This is a great news, thanks a lot!
What about araby?
Not that I care or something, but just curious to know about that poor search engine !
[...] and having sex , from dawn to sun set. In this occasion we … Read the original post: Confirmed: Breaking: Yahoo Acquires Maktoob The Largest Arab … Share and [...]
[...] مكتوب بمبلغ يصل الى 85 مليون دولار حسب موقع techcrunch ( موقع arabcrunch يقول ان المبلغ يصل إلى اكثر من 100 مليون ) ولن تشمل [...]
[...] خبر الصباح اليوم وحسب ما ذكر موقع عرب كرانش وفي حساب مكتوب على موقع تويتر فإن ياهو قد عقدت صفقة [...]
[...] encompasses a variety of services including search, Email, social network, and more. As reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears to be [...]
[...] any websites under Maktoob Group according to the press release on Maktoob Business and the post on Arab Crunch which was the 1st website to break the news about the [...]
[...] encompasses a variety of services including search, Email, social network, and more. As reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears to be [...]
And you guys are feeling happy that the Arab IT industry is becoming more and more a western backyard instead of an independent ecosystem of its own??!!!
[...] reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears [...]
I have never understood why people in the middleeast still use Yahoo to search and yahoo messenger etc.
Nobody in the west use their services…maybe few..
[...] ArabCrunch broke the news that Yahoo has acquired Maktoob and as I updated the acquisition post that with the completion of the deal, the remaining Maktoob Group companies – including Souq.com an e-commerce and auction website, cashU.com online payment card , Araby.com an Arabic search engine, and Tahadi.com an MMO games provider – will operate under a new entity called the Jabbar Internet Group , managed by Samih Toukan. [...]
[...] encompasses a variety of services including search, Email, social network, and more. As reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears to be [...]
[...] مکتوب کو 85 ملین ڈالر میں خریدنے کا اعلان کردیا ہے (عرب کرنچ کے مطابق یہ ڈیل 100 ملین ڈالر میں ہوئی ہے) تاہم اس ڈیل میں [...]
[...] encompasses a variety of services including search, Email, social network, and more. As reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears to be [...]
[...] خطوة تعتبر الاولى من نوعها في منطقة الشرق الاوسط قامت شركة ياهو بشراء بوابة مكتوب في صفقة يقال ان وصلت لحوالي 100$ مليون [...]
[...] encompasses a variety of services including search, Email, social network, and more. As reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears to be [...]
Great news, Congrats for maktoob, The guys behind it must be living the dream now.
Omar, go learn some economics man…
what are the ramifications ? From the viewpoint of GILT* industry, is this acquisition the right move ??
* Globalization, Internationalization, Localization and Translation
what are the ramifications ? From the viewpoint of GILT* industry, is this acquisition the right move ??
* Globalization, Internationalization, Localization and Translation
[...] ArabCrunch broke the news at the global level, that Yahoo has acquired Maktoob and I updated the acquisition post and wrote with the completion of the deal, the remaining Maktoob Group companies – including Souq.com an e-commerce and auction website, cashU.com online payment card , Araby.com an Arabic search engine, and Tahadi.com an MMO games provider – will operate under a new entity called the Jabbar Internet Group , managed by Samih Toukan cofounder of Makto0b. [...]
[...] Yahoo! Acquires Maktoob form more than 100$ million USD. Form more details check this link at ArabCrunch Published 08-25-2009 11:06 PM by Huthaifa [...]
good news
we should stay tuned for Google next step… i am sure it will be even more interesting…
[...] مكتوب بمبلغ يصل الى 85 مليون دولار حسب موقع techcrunch ( موقع arabcrunch يقول ان المبلغ يصل إلى اكثر من 100 مليون ) ولن تشمل [...]
[...] [...]
[...] [...]
The most stupid interpretation of the concepts of economics to think they are only dedicated to money and business advantages.
this is good news
thanks
http://www.d3m-fny.com/vb
[...] encompasses a variety of services including search, Email, social network, and more. As reported on Arabcrunch (which is unaffiliated with TechCrunch), a press conference announcing the deal appears to be [...]
[...] [...]
[...] WP Greet BoxYesterday, the second day after the biggest news in the Arab Internet world since ever -Yahoo! Acquisition of Maktoob- I had the chance to record a video Interview with Keith Nillsson Senior Vice President [...]
[...] blogger Naseem Tarawnah comments on the recent Maktoob-Yahoo! deal. Cancel this [...]
[...] It used to be part of Maktoob Group and now part of Jabbar Group of company which emerged after Yahoo’’s purchase of Maktoob. Souq.com started around 2005 offering an eBay like auction website, where people can sell stuff [...]
[...] almost 2 years of rumors about this deal, Yahoo! made a big move last week when it purchased the Arabic portal Maktoob for an estimated $85 million. This is certainly one of the biggest moves in the Middle East’s [...]
[...] над 12 000 000 потребители от целия арабски свят. Наскоро той бе закупен от гиганта Yahoo!, чиито амбиции да стъпи здраво в Близкия изток [...]
[...] the second day after the biggest news in the Arab Internet world since ever -Yahoo! Acquisition of Maktoob- I had the chance to record a video Interview with Keith Nillsson Senior Vice President [...]
[...] recently broke the news of Yahoo’s acquisition of Maktoob.com and was mentioned in Reuters for breaking it, the blog also had a video interview with [...]
[...] that, I am sure that Yahoo’s Maktoob acquisition of Maktoob is a game changer along with the Internet giant Google’s serious efforts in the [...]
[...] domain for Palestine. But now as Yahoo has become a serious challenger in the region with its Maktoob acquisition; things might start moving fast in both [...]
[...] mind having some cashflow for some of it’s plans in the emerging markets such as the recent acquisition of Maktoob in the Middle East, not to mention the gains it’ll have made from this investment. While for [...]
[...] Google Ejabat is Google Arabia’s first pure Arabic play, and as I said before Google is serious about the Arab region, specially that we have a new big player in the Arab region. [...]
[...] on this topic and others. Or you want to follow us on Twitter or Facebook.Powered by WP Greet BoxYahoo’s acquired Maktoob has launched its first application for the iPhone called “Maktoob [...]
[...] Yahoo’s acquired Maktoob has launched its first application for the iPhone called “Maktoob Dictionary.” [...]
[...] و للقطاع التقني العربي. فهذا الحدث لا يقل اهمية عن قيام ياهو بالاستحواذ على مكتوب بمبلغ قدرته مصادري ب ٢٠٠ مليون دولار. ( خبر استحواذ [...]
[...] price of the deal was not announced, but it has great implication the same way Yahoo’s acquisition of Maktoob will affect the Arab region, -according to my sources the amount of the deal was 200 million [...]
[...] and others. Or you want to follow us on Twitter or Facebook.Powered by WP Greet Box ArabCrunch Broke at the global level that Yahoo Acquired Maktoob, today it was announced that the deal is completed on Thursday [...]
[...] في عمليات الاستحواذ و التمويل على مستوى المنطقة، فمن استحواذ ياهو العالمية على مكتوب، الى استحواذ سماشنج ماجازين على مدونة نوبي المصرية، [...]
[...] This is the first time a fully supported Yahoo! search engine has been available in Arabic and is currently in its first phase on Maktoob.com . And this is the first integration step between Maktoob and Yahoo after the acquisition! [...]
[...] للغة العربية في محرك بحثها و ذللك من خلال موقع مكتوب الذي استحوذت عليه السنة الماضية. وهذا الخطوة تعتبر أول عملية دمج خدمات ياهو العالمية [...]
[...] date 25. August 2009, when Yahoo acquired Maktoob, will be written in history as critical point for the Arab tech and Internet industry, as it might [...]
[...] However, we see now a major change in that direction as we see bigger regional push from Google, as its it is seeking to employ more people in the region. This comes few months after Yahoo!’s acquisition of the largest Arab portal Maktoob. [...]
[...] companies have big interest in MENA as a fast growing region.” a fact that is not only backed by Yahoo! ‘s maktoob acquisition last year, but also with a number of facts: Facebook Arabizing its UI, Skype Arabizing its UI and [...]