sources monday clubhouselike spotifykafkavox:
sources monday clubhouselike spotifykafkavox: What for those who knew your favourite artist intimately, all the way down to the non-public particulars of their life? What if they may collaborate with you on a musical venture? What for those who had direct entry to their work, in addition to a possibility to have interaction in significant dialog with them at any time in anyplace?
Anghami is one such firm that strives for this intimacy with its group. Anghami’s mission is to “present artists and listeners around the globe a greater connection.” By offering entry to music, streaming providers and the artists who produce it, Anghami has created a platform the place it’s doable to fulfill each artists and customers on equal phrases.
Anghami shouldn’t be a single entity however quite an aggregation of 4 totally different platforms which can be owned and operated independently by unbiased groups in Abu Dhabi, Los Angeles and India. As a result of these groups work individually, they haven’t been capable of share knowledge effectively and be capable of determine international tendencies extra shortly than they will individually.
This problem of sharing knowledge was one of many main drivers in direction of Anghami’s IPO. In 2017, Anghami consulted with UBS and Goldman Sachs to gauge curiosity within the firm’s providing on the NASDAQ. Subsequently, the corporate obtained curiosity from quite a few events together with Spotify, SoundCloud and extra to both purchase a stake or merge with Anghami.
Essentially the most compelling provide got here from Spotify who provided a most popular worth for $220M USD in change for a 34% stake. Subsequently, Anghami reached out to its different stakeholders within the U.S., India and the Center East to achieve a consensus on what was greatest for Anghami and for its buyers. The choice got here down to a few choices:
1) Anghami stays unbiased, with a separate board of administrators.
2) Anghami merges with an equal stakeholder to kind an equal partnership with Spotify.
3) Anghami merges with an investor who will receive a majority of the corporate, and due to this fact management the path of Anghami.
In April 2018, Anghami selected to tackle a brand new strategic companion within the type of Spotify. The merger is presently being reviewed by the SEC, however when it goes via it’s going to mechanically set off a reverse merger with SPAC (particular objective acquisition firm), which is able to finally make Anghami’s IPO go public.
The Advantages of Anghami’s IPO and its Strategic Merger with Spotify
The acquisition by Spotify will present Anghami instant entry to a bigger buyer base. At the moment, Anghami has 70M whole prospects, 4.5M of whom are premium subscribers. With Spotify contributing 70M subscribers worldwide to the portfolio, this strategic merger will improve the variety of paying subscribers by over six instances and due to this fact present a bigger whole addressable marketplace for the corporate.