Mrrha, Egypt’s Home Based Startup Acquired By The Ex-Owner of Wslaat, A Maktoob Acquired Company.
Update: The rumored price was for Maktoob Wslaat acquisition.
Launched last year, Mrrha which was founded by Mahmoud Elmasoudy and his brother from egypt right from there home, allows you to upload your files synchronously on the Internet and send (mirror) them to the most famous file uploading services, the site was acquired by the Emarati startup called Creative Solutions.
Emarati entrepreneurs Khamis Alshryani is behind Creative Solution, he is the ex-owner of wslaat.com which was acquired by Maktoob before (Now Maktoob Yahoo!.)
Mrrha, solves real problems for many internet users in the region, as forums are the most visited sites, uploading videos, pics and other files are very common across all Arabic forums. In many times, the download link gets expired or deleted by the file hosting provider, Mrrha saves time and effort by enabling someone to upload files once to a max of 7 file sharing sites.
According to Mahmoud the acquisition negotiations took around 3, the acquisition closed on 8 Nov 2009, around one year after Mrrha was launched.
Mahmoud added that Creative Solutions intends to do a lot of developing and start pushing advertising campaigns.
Update: The price of Maktoob Acqusition of Wslaat which happened in January 2009 was not announced, but it is rumored to be around 750000 AED ( 204,207.21 USD).
This acquisition is another healthy sign in where the Internet and tech industry is going these days in the Arab world, as we see more funding rounds take place, we are seeing exists also taking place, these activities ( funding and exits) are essential to the creation of a startup based tech ecosystem, that we at ArabCrunch push with all our efforts.