Anghami Logo

Middle Eastern streaming service Anghami went public on Friday, following a SPAC merger with Vistas Media Acquisition Company. How is life as a public company going? Very well so far, it’s fair to say.

Yesterday, Anghami’s share price closed the day at $19.50, up 62.5% on the previous day. That rise saw the company’s market cap – its value – soar to $503.4m.

As we noted yesterday, Anghami is the first Arab tech company to be listed on the NASDAQ stock exchange in the US – a point of pride for the company, and a listing that is being carefully watched by other tech startups in the region.

Anghami currently has 18.4 million active users including 1.4 million premium subscribers, with annual revenues of $30.5m in 2020. It should soon be publishing its numbers for 2021, when we’ll see how its growth is coming along.

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