D1g.com Closes its First Round of Funding

3 Aug, 2009

d1g.com Usama FayyadUpdated:

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.)

Update:

—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.

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  1. Ruslan Trad  |  August 3rd, 2009 at 10:45 AM #

    I try D1G, but for me Maktoob is better.

  2. D1G, с привкус на Yahoo! « Intidar|إنتضار  |  August 3rd, 2009 at 4:36 PM #

    [...] е D1G (Deewanji). Благодарение на приятелите ми от ArabCrunch, научих повече за последната [...]

  3. Samer  |  August 4th, 2009 at 2:07 AM #

    Who are the investors?

    I dont think this is what they want you to think. Its more like an internal fund raising round or an Angel round. This happens when a compnay is doing badly. I believe this is just a PR stunt to get investors interested, especially when rumors have been flying around that D1G was up for sale at a loss this year.

    If this were a serious investment they would be proud to disclose who the investors are. Yalla Ghaith, do some investigative yournalism :)

  4. Franky  |  August 4th, 2009 at 8:49 AM #

    How could they be in financial troubles if they closed a round of funding?? Common sense….they are doing great apparently and the rumors have to be false.

  5. Alaa Fada  |  August 4th, 2009 at 9:00 AM #

    I'm interested to know these other sources, although you called Majied yesterday and he assured you that these claims are not correct, and I can assure you as well (as the president of d1g) that are not true, as we moved to our new offices which are 3 times bigger than the old one, we are hiring people are our team is growing.

  6. Nikhil Pahwa  |  August 4th, 2009 at 2:46 PM #

    Alaa,

    I saw that press release and it looks like vaporware to me. There's no funding amount mentioned, no investors have been disclosed.

    If a company sent me such a PR, I would refuse to cover it unless more information was disclosed, and I was able to get a sense of why funds were raised and speak to investors.

  7. ArabCrunch  |  August 4th, 2009 at 5:49 PM #

    sorry Alaa, I was supposed to meet Majied today but I could not, Post has been updated .

  8. ArabCrunch  |  August 4th, 2009 at 5:52 PM #

    i called Abdul-Majid Qasem the director of d1g.com he told me how much was the funding round but did not authorize me to publish it, he said he can not disclose the names of the investors, but one of them is Usama Fayyad, ex Data Chief office Yahoo!

  9. Samer  |  August 7th, 2009 at 1:08 PM #

    I completely agree with Nikhil. This PR sounds more like a desperate attempt to get investors interested. There was no "funding round" in the sense that is being implied. It's more like an internal round with the existing shareholders either putting in more money or selling out to new investors (in both cases this means the company is doing very bad).

    There have been rumors flying around that D1G was being offered for sale to big region portals such as Maktoob for a mere 500k and Maktoob turned them down.

    Ask them why they are shy from disclosing who those investors are…. Everyone who gets a VC or investor is usually proud to disclose that info ;)

  10. Alaa Fada  |  August 12th, 2009 at 7:39 AM #

    Hello Samer,

    When the time is right we will reveal the names of these investors, and I assure you within 1-2 months there will be another press release revealing these names.

    As for Maktoob story it is not true at all, as we are very good friends with the Samih and Husaam and we meet with them on regular basis, and there was never any discussion about acquisition.

  11. D1g.com Officialy Launches 7asnaa.com a Woman Community Portal  |  August 31st, 2009 at 5:08 PM #

    [...] announced closing its 1st round of funding early this month. The portal has appointed 2 months ago the former [...]

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