Update: Abu Dhabi’s Twofour54 Ibtikar funds online gaming companies Tahadi and Jawaker in excess of $US 2.5 million

10 Aug, 2011

Updated.

Twofour54 ibtikar, twofour54’s financing and support arm, has today announced new venture capital investment deals with two of the region’s Arabic online games companies, Tahadi Games and Jawaker.

Established in 2008 and part of Jabbar who is founded by the previous owners of Maktoob.com, the region’s biggest Arabic language portal, which was purchased by Yahoo in 2009, Tahadi aims to be the region’s leading online games publisher for client and browser based massive multiplayer online (MMO) games that target the Middle East.

Jawaker is a multiplayer card gaming website developed especially for the Arab region. the site launched in April of 2009 by the Jordanian founders of career website Akhtaboot, the website does not require the user to download or install software as it uses javascript. It claims in having over 500,000 registered users, 95% of whom use the site in Arabic. and that it serves over 17 million pageviews per month, and currently has approximately 100,000 visitors per month.

A press release by twofour54 says total user registrations are increasing at roughly 100% per annum for both companies. Investment from twofour54 ibtikar will not only see the companies have access to the capital required to grow, but it will also see them provided with the active support necessary to capture revenue and profit opportunities from within the twofour54 ecosystem and beyond. The press release does not say how much investment did twofrou54 made in both companies.

We have emailed folks at twofour54 asking for more details and we will update you here with more information once we get them.

Update:

Wayne Borg deputy CEO & Chief Operating Officer replied to us, he said the combined value of both transactions is in excess of $US2.5M and that is not their first investment as they invested in other entities including T-break. he also added:

-          ”Both companies will be based at twofour54 and we expect in excess of 50 new jobs created by them . We encourage entities to be based in Abu Dhabi to be part of the twofour54 ecosystem and leverage the world class facilities, talent pool and community of regional and international media companies and connections.”

-          ”We will continue to look for investment opportunities that align strategically to twofour54’s purpose. Talent development, creative companies that support twofour54 vision of creating a centre of excellence for Arabic content and creating job opportunities.”

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  1. Jamal  |  August 10th, 2011 at 10:39 PM #

    Jawaker looks good but tahadi is just duplicated content, games that are copied from other big sites, so nothing there.

    The site behind Jawaker games development is http://www.boundlessdrop.com/

    I hope they build those games with some security in mind, because everything is obvious in the code and in all the socket packets.

    If I were them I wouldn’t develop these games in Javascript, we did that in the past…

    Now you either choose HTML5 or Flash.

    So sooner or later someone will come up with 3d arabic card games and make it more fun to play then those boring games :D

  2. Jamal  |  August 12th, 2011 at 1:23 AM #

    Those investment companies are either crazy or have allot of money?

    Give me 10.000$ for every single game arabic game you want to develop (cards or boards) and I will make them in 3d with multiplayer, every single game will take maximum 2 month.

    Jawaker setup.
    ————————————
    Rails (1-2 weeks to develop it)
    Design ( pay 500-1000$ to a designer )
    Every game around 5000-10.000$
    Get yourself flash socket server for 3000$ (unlimited players)
    ————————————

    So if they invest around $US2.5M, then something is wrong or I’m blind!

    I understand development of the site is one thing, but still that’s too much money, It was better to split the cash and invest in few small companies around the middle-east, so more ideas can expand.

    For these money you should invest in MMORPG games and not card or board games :S.

    That’s my opinion.

  3. Gaith Saqer  |  August 13th, 2011 at 8:00 PM #

    @jamal thank you for your comment, please allow me to disagree with you. to build a sustainable business you need a team not just freelancers. hiring senior developers will cost money, you do not also just need developers, you need people in marketing, support community management and so on. Also you need some money to spend on marketing. and I am sure they plan to launch more games, as such the amount invested is justified.

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