Yahoo! acquires Maktoob.com

By on August 25, 2009
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Yahoo! made its official entry into the Middle East today by partnering up with Maktoob. The Press Conference hosted to announce the acquisition was attended by Mr. Keith Nilsson of Yahoo!, Senior VP for Emerging Markets and Mr. Samih Toukan, CEO and founder of Maktoob.com. According to the information provided by Mr. Ahmed Nassef, VP [...]

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Yahoo! made its official entry into the Middle East today by partnering up with Maktoob. The Press Conference hosted to announce the acquisition was attended by Mr. Keith Nilsson of Yahoo!, Senior VP for Emerging Markets and Mr. Samih Toukan, CEO and founder of Maktoob.com.

According to the information provided by Mr. Ahmed Nassef, VP of Maktoob Group, Maktoob has over 16 million users at the moment whereas Yahoo! services almost 20 million people from the region. Maktoob will Arabize Yahoo! and merge their portal users into “Yahoo! Maktoob.” The rollout will start off with Yahoo’s Email and IM services translated towards the end of the year. Separately, Maktoob will move its e-commerce related businesses such as souq.com and CashU into a new entity titled Jabbar Internet Group.

I personally feel this acquisition is a testament to the explosive growth of Internet users in the region. Currently, there are about 40 million users online however, there is a potential growth of almost 30% every year as pointed out by Maktoob.

A video of presentation by Mr. Keith Nilsson

A video of presentation by Mr. Samih Toukan


About

Abbas Jaffar Ali is the founder of tbreak.com and a blogger, geek and self-declared tech pundit who can't stop talking about technology. Find him on twitter as @ajaffarali

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