Anghami is a music streaming service with headquarters in Abu Dhabi, UAE.
Launched in November 2012, Anghami translates to “my tunes” in Arabic.
The platform provides the largest Arabic and international licensed music catalog in the Middle East and North Africa, across both a free ad-supported restricted tier and a premium paid tier, Anghami Plus.
It operates in multiple regions including Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Tunisia, and UAE.
Users, subscribers, and catalog
He further confirmed that 78 million people had used Anghami up to that point, and that only 18% of these users were located outside the Middle East.
According to reports, Anghami was delivering over 50 million songs to 70 million users in Q1 2021.
According to Elie Habib, Anghami’s first funding round took place in February 2011 for around $1 million.
In 2016, Anghami raised a Series B round for an undisclosed value from lead investors such as private equity firm Samena Capital. That round also included money from UAE telecommunications company, Du.
In January 2021, Anghami announced that it had sold a stake to Dubai-based asset management and investment banking platform, Shuaa Capital.
Elie Habib told MENAbytes that this raise was part of an ongoing $50 million investment round.
Anghami announced in March that entered into a definitive merger agreement with publicly traded special purpose acquisition company Vistas Media Acquisition Company Inc.
The merger will result in Anghami listing on the NASDAQ in New York, with the combined company set to operate under the Anghami name and trade under the new symbol ANGH.
Music Business Worldwide