D1G Announces Closing Of Its First Round Of Financing

| Aug 3, 2009 | comment Leave a comment

D1GD1G just announced its closing of a first round of financing; that will go towards funding the site, its expansion and its infrastructure on the Internet.

According to the press release issued by the company, this first round has attracted a number of regional businessmen and international experts in the internet industry to join the site’s management.

Commenting on this round, Abdul-Majid Qasem, D1G Executive Director, said that the first round of investment was able to attract the necessary funding for the next phase, and that the amount raised would help the company improve its products and services to achieve the board of directors’ vision and aspirations.

He also noted that the next round of strategic investment negotiations with some of the leading capital and private equity firms in the region is currently ongoing.

D1G was founded in May 2006, and according to the numbers released by the company have been able to build a community of more than 3 million people per month over the past years, generating more than 20 million impressions and over 15 million online monthly videos. They also claim to have grown 100% in number of users during the first half of 2009 alone.

D1G’s growth has been both organic and through acquisitions, and it seems they’ll be sticking to the same approach for growth in the future.

Just a couple of months ago, D1G announced that Usama Fayyad, Ex- Chief Data Officer and Executive Vice President at Yahoo!, had been appointed Executive Chairman of D1G to help develop the company and take it into its next stage of growth. He was already on their board of directors since September 2008.

D1G also announced that prominent Jordanian business man and investor Karim Kawar will become an Active Advisor on the company’s board of directors. Karim Kawar, who had previously served as Jordan’s Ambassador to the US, is currently advising a number of regional capital and technology companies.

Sign up for StartUpArabia news sent to your inbox:
 
Subscribe: Feed