d1g.com closes its first round of financing

d1g.com closes its first round of financing

d1g.com completed its first round of financial investments allocating the revenues it generated to fund the site, its expansion and its infrastructure on the Internet. The first round has attracted a number of regional businessmen and international experts in the internet industry to join the site's management.

August 2, 2009 12:00 by Aarti Nagraj

Commenting on this round, Abdul-Majid Qasem, d1g.com Executive Director, said that the first round of investment went as expected and scheduled and d1g.com was able to attract the necessary funding for the next phase. He added that d1g.com has succeeded in attracting a number of big investors who are expected to accelerate dg.com growth and increase its popular base.

Qasem said that the amount raised would help the company improve its products and services to achieve the board of directors’ vision and aspirations. He noted that the next strategic investment round of negotiations with some of the leading capital and private equity firms in the region are still going on, which reflects the site’s investment opportunities and their economic viability.

It should be noted that d1g.com, the leading Internet website, was launched in 2007 to provide through its electronic portal and its regional offices, (Jordan, Egypt, Saudi Arabia and Kuwait), a number of advanced electronic services.

Since its inception, d1g.com succeeded in attracting a community of more than 3 million people per month, generating more than 20 million impressions and excess of 15 million online monthly videos. Thus the site became first unchallenged Arab website for sharing video files.

In addition to returns on financial investment, d1g.com succeeded in attracting a number of talents to enhance its position as a powerful regional portal capable of providing for the needs of its different generations users.

In September 2008, d1g.com succeeded in recruiting Dr. Usama Fayyad, Yahoo!’s Chief Data Officer and Executive Vice President, who became a member of d1g.com board of directors. Dr. Fayyad took on the role of Executive Chairman of d1g.com in early 2009. He will work closely with the d1g.com team and our partners to develop d1g.com to become one of the leading international sites.
“I am very excited about working with and investing in d1g.com. The company’s continued progress in this difficult market, is a witness of the value produced by the company for both users and marketers alike.”

“I am very excited about working and investing in d1g.com. The company’s capacity to attract investments in this difficult market, is a witness of the value produced by the company for both users and marketers alike.”

d1g.com was again able to attract Karim Kawar to become an Active Advisor on Board of Directors. Karim Kawar, had previously served as Jordan's Ambassador to the United States of America in Washington, DC, and is currently an adviser to a number of regional capital and technology companies. It should be noted that Kawar is a leading businessman in the technology sector and he has contributed to the establishment of a number of successful specialized companies in the region.

“I have given advice to d1g.com since its early days. I'm impressed with the growth rates and the number of audience reached by this company in the region,” said Karim Kawar.

He added that “the company has grown from an idea and became a vital community of more than 3 million people in a record time. This is an indicator of the company’s technical capabilities and the strength of its logistics structure. No doubt that this transformation is impressive by all standards. The region is ready for a new generation of internet portals and social networking and d1g.com was able to meet the many needs of Arab users.”

Since its creation, d1g.com continues to consider several acquisitions as well as continue its organic growth — having grown 100% in number of users during the first half of 2009 alone!

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About d1g.com

The name, d1g expands phonetically to dee-wan-gee which refers to a person who attends a diwan — a fun place where a community gets together to share information, stories, and learn and be entertained.

d1g is the fastest growing Web 2.0 integrated online community that has become the leading Arabic portal for rich digital media such as online Arabic clips and pictures. d1g is a venue where Arab users can create and join online communities, publish their favorite music, share videos, create their own web identity and evolve into web publishers. d1g suite of services include a range of Arabic Web 2.0 service and new models of online social networking to capitalize on the enormous growth in internet penetration and digital media in the Middle East. d1g is continuously offering new online service concepts for the Arab online communities that address a gap in the current online content and services addressing the emerging needs of Arab users.

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