N2V Invests in iAraby Jordanian Based Mobile Apps Startup
N2V, one of the largest Internet holding groups in Arabia focused on consumer web and mobile ventures, invested in iAraby. Based out of Jordan, iAraby focuses on developing mobile applications that are targeting Arab users. iArabay develops both content mobile apps and mobile games.
d. Ahmed Barqawi iAraby’s CEO, Said highlighting their vision: “This is exactly the right time for mobile; MENA market is hungry for high quality Arabic applications, to fill the gap in the market as smart phone penetration growth is exceeding all expectation!”
According to a new set of figures released, the average of mobile penetration rate for the Middle East will cross the 100% mark in 2012: It will rise from 97.72% at end-2011 to 107.09% at end-2012. The UAE is predicted to have over 70% smartphone penetration by 2016, up from 47% today. Smartphone penetration was also extremely high in Saudi Arabia, where 60 percent of mobile phone users had smartphones. More over, only 39% of users who understand Arabic prefer app in English. It is also expected that the annual growth rate of the online gaming traffic in the Middle East will reach 71% by 2015.
iAraby also develop mobile games targeting the broad audience of mobile gamer looking for games relevant to our culture and speaks the same language.
Early 2012, N2V launched a special mobile investment arm called Startappz to hunt for the best talent and investment opportunities in mobile and create a focused and specialized cluster for mobile apps, technologies, best practices, mentors, and tools as part of the group.