D1g.com Closes its First Round of Funding
d1g.com the Jordanian Arab video photo sharing and general Portal startup has announced via a press release that it has completed its first round of financial investments. The press releases states that the first round has attracted a number of regional businessmen and international experts in the internet industry to join the site’s management. Numbers were not disclosed, though some sources said have told me that the company has previously raised 1 million USD in seed funding. Other sources told me that the company has been in financial troubles but I was not able to verify the claim. (I will contact d1g.com today and get you their answer.)
—I called Abdul-Majid Qasem d1g.com Executive Director yesterday, and explained to me that the company was doing ok before the funding in fact he said this month they expect to break even, he added that they fired few employee in late 2008 and went back to hiring in 3-2009.—–
In the press release Abdul-Majid Qasem, d1g.com Executive Director, said that d1g.com has succeeded in attracting a number of big investors who are expected to accelerate d1g.com growth and increase its base. The full list of Investors were not disclosed in the press release. He also added that d1g.com is still in negotiations with more private equity firms in the region.
d1g.com, was launched in 2007 as a video and photo sharing Arabic site, and later added more services such as Arabic Q&As, via acquisitions or in-house development.
The company claims more than 3 million visits per month, who generate more than 20 million impressions with of 15 million online monthly videos, the web site also claims it has grown its user base 100% during the first half of 2009 alone. D1g.com competes head to head with the largest Arab community online : Maktoob (based in Jordan) the Jordanian based video and photo sharing startup, Ikbis (part of Toot Corp which also owns WatWet.) and Jordan based Arab blogging and social network site Jeeran.
In September 2008, d1g.com recruited Dr. Usama Fayyad, Yahoo!’s Chief Data Officer and Executive Vice President, who became a member of d1g.com board of directors. Dr. Fayyad took on the role of Executive Chairman of d1g.com in early 2009.
d1g.com was again able to attract Jordanian Angel Investor Karim Kawar to become an active advisor on Board of Directors. Karim Kawar, was video interviewed last May by the founder of ArabCrunch here. He had previously served as Jordan’s Ambassador to the United States of America in Washington, DC, and is currently an adviser to a number of regional capital and technology companies.
The company also hinted in the press release that it will continue to consider several acquisitions.