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An announcement from Anghami Inc. ( (ANGH) ) is now available.
Anghami Inc. has secured a significant investment of up to $55 million from OSN Group, marking a pivotal step in enhancing its leadership in the MENA region’s digital entertainment sector. This funding, which includes an initial $12 million in a convertible note program, will accelerate growth through expanded content libraries and advanced technology, fortifying Anghami’s and OSN+’s market position. Since April 2024, the strategic partnership between Anghami and OSN+ has led to significant achievements, such as a 41% growth in video streaming subscribers, the launch of a new 4K Premium Plan, and enhancements in AI-driven content discovery. This investment aims to further elevate the digital entertainment experience for MENA audiences and drive innovation in streaming technologies.
More about Anghami Inc.
Anghami Inc. is a leading multimedia technology streaming platform in the Middle East and North Africa (MENA) region, offering a comprehensive array of exclusive premium video, music, podcasts, live entertainment, and audio services. It has partnered with 47 telecom companies across MENA to facilitate customer acquisition and subscription payments. Headquartered in Abu Dhabi, UAE, Anghami operates in 16 MENA countries and maintains offices in Beirut, Dubai, Cairo, and Riyadh. The company boasts a user base exceeding 120 million registered users and 3.5 million paid subscribers.
YTD Price Performance: -21.63%
Average Trading Volume: 80,994
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $24.22M
Find detailed analytics on ANGH stock on TipRanks’ Stock Analysis page.
