UAE - Anghami, the first Arab tech company listed on Nasdaq, has generated total revenues of $35.5 million in 2021, up 16% year-on-year (YoY).
The Abu Dhabi-headquartered company's subscription revenues amounted to $25.7 million last year, while the advertising revenues rose by 70% YoY to $9.8 million, according to a press release on Wednesday.
In the first quarter (Q1) of 2022, the company's total revenues hiked by 23% to $9.3 million on an annual basis, attributed to 26% higher subscription revenues, according to the company's preliminary unaudited financials for Q1-22.
The Co-founder, and CEO of Anghami, Eddy Maroun, said: "As we grow further towards being an entertainment platform, we are working to bring innovative concepts like Anghami Lab to life – to be the first immersive experience of its kind, connecting the online and offline worlds and bridging the gap between digital and traditional entertainment while supporting local creator communities."
Meanwhile, F. Jacob Cherian, Co-Chief Executive Officer of Anghami, commented: "We are confident that this positive development will continue through 2022 as we benefit from our growing partnerships and offerings."
It is noteworthy to mention that in February 2022, Anghami completed its business combination with Nasdaq-listed Vistas Media Acquisition Company (VMAC) and started trading its shares in the US.
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