Jordan-based business news portal receives AED100,000 cash prize
Judging panel included HE Ahmed bin Byat, Fadi Ghandour and Mustafa Abdel Wadood
Five web-based businesses from across the region shortlisted
Dubai, UAE; March 17, 2015
Snackable News, a Jordan-based business news portal was announced as the winner of the Buthoor competition at the inaugural Arab Social Media Influencers Summit, organised under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
The competition is part of the Buthoor platform that aims to provide online business entrepreneurs access to mentorship as well as funding through investors. The competition saw five regional startups pitch their business models to a panel of expert judges including HE Ahmed bin Byat, CEO of Dubai Holding; Fadi Ghandour, Founder & Vice Chairman of Aramex; and Mustafa Abdel Wadood, CEO of Abraaj Capital.
Ziad Barouni, CEO and Founder of Snackable News was awarded AED100,000 by Hesham Abdulla Al Qassim, Vice-Chairman of Emirates NBD. The company impressed judges with its business model of revenues driven by subscription to daily business news and stories that are 'roasted' to making them snackable and shareable, as well as native advertising.
Ziad Barouni said: "I am delighted to be selected as the first Buthoor winner. Buthoor is a timely initiative to encourage and support digital start-ups in the region. It was also an honour to meet my fellow competitors and other like-minded entrepreneurs in the digital space."
Barouni has plans to further expand the business with the cash prize, and to reach out to SMEs across the region. "SMES are a critical component of the economy, and we would like them to benefit from Snackable News to increase their market share."
The other businesses that were shortlisted to present their ideas to the judging panel were Loujee.com, the first Arabic smart toy powered by iphone; Shopshopme.com, an online shopping search engine; Nafham, a crowd sourced education video platform; and MTS, a UAE-based delegation management software company.
The first event of its kind in region, Arab Social Media Influencers Summit brings together more than 1500 social media experts from Arab countries and across the world. As many as 38 leading speakers and influencers at the Summit will inspire young Arabs to employ their innovative ideas to serve the Arab community through optimal use of social media channels. The Summit concludes on March 18.
For media inquiries please contact:
Amr Diab, Nedal AL Asaad
T: +971 4 4507619| Amr.Diab@bm.com | Nedal.AlAsaad@bm.com
© Press Release 2015