“Anghami” for Arabic: the announcement of the implementation of the merger with Vistas Media is very soon

Eddie Maroun, CEO of Anghami Digital Distribution, said in an interview with Al Arabiya today, Thursday, that Anghami’s merger with the check company in white Vistas Media listed on the Nasdaq Stock Exchange has not been postponed.

He added that the merger process was delayed due to the Securities and Exchange Commission procedures in America and that the deal would go on.

He explained that the process is currently in its final stages and its implementation will be announced very soon.

He pointed out that investments confirmed by the deal range from $ 70 million to $ 90 million.

Eddie Maron said: “The company’s priority at the moment is growth, not profitability, because after achieving growth comes profit, and the numbers at the end of the year will make that clear, and its current share is 6%. market, which shows growth opportunities and we expect to reach profitability after 3 years. “

The CEO explained that achieving profitability is tied to the company’s strategy and plan, and if you prioritize profitability over growth, profitability will be achieved tomorrow.

He added that the company’s second largest return after subscriptions is advertising, and subscriptions account for 80% of revenue, and with the new plan, there will be more new revenue and revenue.

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