Amman, Jordan and Silicon Valley, CA - Tuesday, November 10, 2009 - ArabCrunch Group announced today closing a round of funding and the launch of ArabCrunch.NET, the first social network dedicated to creating an environment that fosters innovation, entrepreneurship and mentorship for Arab entrepreneurs throughout the world.  ArabCrunch.NET offers a dynamic platform for collaboration amongst the various stakeholders within the technological ecosystem from Berkeley to Bahrain. 

The launch came during a press conference held by ArabCrunch in cooperation with Queen Rania Center for Entrepreneurship at the headquarters of the Royal Scientific Society.

"ArabCrunch.NET will facilitate knowledge transfer and enable veterans from Silicon Valley to work with and mentor young talent from the MENA region," said Bassel Yassine Ojjeh, a former Senior Vice President of Yahoo!, Inc. USA, a serial entrepreneur and Board Member of ArabCrunch Group, who led the round of funding.  "We've built ArabCrunch.NET to fuel innovation, create a knowledge based society and an environment for job creation in the region that will serve high tech professionals throughout the 22 Arab countries and the western hemisphere."

"We're thrilled at the opportunity to be the first dedicated group that focuses on accelerating the innovation cycle both here in Amman and throughout the Arab world," said Gaith Saqer, Founder of ArabCrunch Group.  "Ever since we launched ArabCrunch.com in 2008, we have been committed to finding the most compelling technological innovations that impact the Arab world - this next chapter allows us to help foster collaboration on a scale never seen before in our region.  We have built a social platform that connects participants and helps them find crucial resources, build strategic partnerships and promote services."

Since it's unveiling in 2008, ArabCrunch.com has grown to one of the most widely read technology blogs in the Arab world with over 30,000 monthly visits.  Founded on the principle of "professional blogging," ArabCrunch.com has become the primary source of information about the latest technological advancements relevant to the Arabic world.  An Arabic version based on "citizen journalism" was launched last month and has met with great success.

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About ArabCrunch Group
ArabCrunch Group's mission is to inform, impact, inspire and create an Arab centric technology ecosystem that delivers information, and connects Arab entrepreneurs both in the region and throughout the world via its properties, ArabCrunch.com, ArabCrunch.NET and ArabCrunch.com/ar. About Arab Crunch. The mission of ArabCrunch.NET is to help accelerate entrepreneurship and technology innovation in the Arab world by delivering an online social platform that connects participants of the technology ecosystem.

About Queen Rania Center for Entrepreneurship
The QRCE is a non-profit, non-governmental organization established in October 2004 and is now a complement of El Hassan Science City. The center's mission is to support economic development through offering a package of services to promote excellence and market technology. The centre particularly targets college students, researchers, inventors and initiators to enhance and build their personal capacities. QRCE offers this group consultation and works to develop their sense of excellence and initiative through a set of programs including Queen Rania National Entrepreneurship Excellence Competition, Technology Commercialization Program, Connect Jordan and Princess Sumaya University for Technology's Entrepreneurship Society (DART).

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© Press Release 2009