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Tue 20 Aug 2019 11:21 AM

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Egypt's RiseUp acquires Saudi's MENAbytes for undisclosed sum

RiseUp to acquire more platforms in Q4 and 2020

Egypt's RiseUp acquires Saudi's MENAbytes for undisclosed sum

Egypt-based entrepreneurship summit organiser RiseUp has acquired Saudi-based tech start-up publication MENAbytes for an undisclosed sum.

The acquisition includes the publication’s new data platform trackMENA, which helps users track start-ups, venture capital companies, investments and acquisitions in the MENA region.

MENAbytes, which was founded and run solely by Zubair Naeem Paracha since 2017, boasts over a 100,000 monthly page views. It has recently expanded its coverage to Pakistan and is looking to further expand to Turkey and other emerging markets.

As a result of the buyout, Zubair will join RiseUp and continue to lead MENAbytes, trackMENA, which will remain independent.

RiseUp is planning more regional events, expansions and acquisitions in Q4 and 2020.

Naeem said, “Partnering up with RiseUp will open many new avenues for MENAbytes and trackMENA to build the largest start-up news and data platform for the emerging markets.”

RiseUp CEO Abdelhameed Sharara said, “We’re immeasurably excited about the opportunities MENAbytes will offer RiseUp. The acquisition, and working with Zubair, is the first big leap in our vision of being a one-stop shop for the entire spectrum of resources entrepreneurs and start-ups in the region need to grow.”

Arabian Business digital magazine: read the latest edition online