Core Insights - Anghami Inc. has secured up to $55 million in funding from OSN Group, with an initial investment of $12 million in a convertible note program, marking a significant milestone in its digital entertainment journey in the MENA region [1][2] Group 1: Partnership and Growth - The partnership between OSN and Anghami, initiated in April 2024, has combined OSN+'s premium video streaming capabilities with Anghami's extensive audio portfolio, resulting in a 41% growth in video streaming subscribers from April to October 2024 [2][5] - Enhancements to the OSN+ platform, including the launch of a new 4K Premium Plan with Dolby Atmos and Dolby Vision, have led to increased user engagement and time spent on the platform [2][5] - The investment aims to accelerate growth, expand content libraries, and enhance user experiences through advanced technologies, including AI-driven personalization [2][3] Group 2: Company Overview - Anghami is the leading multimedia technology streaming platform in the MENA region, offering a wide range of premium video, music, podcasts, and live entertainment [4][6] - The company boasts over 120 million registered users and 3.5 million paid subscribers, having partnered with 47 telecommunications companies across MENA to facilitate customer acquisition [6] - Anghami operates in 16 countries within the MENA region, with its headquarters in Abu Dhabi and offices in major cities like Beirut, Dubai, Cairo, and Riyadh [6]
Anghami Secures Significant Investment from OSN Group