I may be totally off base on this, but from what I have heard, Dubizzle currently does USD 10 million in annual revenue.
The recent investment into the firm by South African media conglomerate Naspers’ wholly owned subsidiary MIH Internet is estimated to be USD 10 million for an undisclosed stake.
Great numbers. Let’s hope it is an indicator of good things to come for the regional online space.
Coupon / Deal Sites in Dubai
With coupons being the hottest “me-too” area at the moment, there seems to be a new player starting up every week. Here’s my list of current players in Dubai. I’ll try to update it as and when players arrive and leave the market.
In no particular order:
- Gonabit - Local, backed by Bayt.com
- Cobone, Local, backed by Jabber Internet Group & external partners.
- Groupon - Chicago based, backed by it’s well known parent.
- livingsocial (coming soon) - Washington DC based, invested in by Amazon.
- Deal Gobbler - Local, unknown backers
- Dealaboo - Local, unknown backers
8th June 2011 - An update to my first list:
It’s not that big a market folks.