French digital publisher, Webedia, acquires majority stake and injects $5 million into Diwanee Media Company
Dubai (March, 19th 2014) - Webedia, a Paris-based digital publishing company, with over 40 million unique users globally through its presence in France, Brazil, Turkey, Germany and Spain, enters the Middle East digital space through a majority acquistion of Diwanee.(www.diwanee.com)
Webedia, responsible for glamour and fashion portals, Purepeople.com or Puretrend.com amongst others, will also be investing an additional five million dollars into Diwanee, towards the expansion of the existing portfolio of premium digital properties, product innovation, and vertical diversification.
Founded in 2009, Diwanee Media Company today offers one of the largest and most engaged online female audiences across the Middle East, through its portfolio of premium sites (Yasmina.com, 3a2ilati.com, AtyabTabkha.com, and ecommerce site, Mooda.com.) offering content ranging from fashion and beauty to pregnancy and cooking, customised for the Arab woman.
Hervé Cuviliez, CEO and founding partner of Diwanee states “This majority acquisition by Webedia will enable Diwanee to reinforce its position as a leader in the digital media sector in the region as well as fuel innovation and growth to allow us to continute to provide the highest quality content and state-of-the-art technology and advertising solutions to our clients.”
Guillaume Multrier, co-founder of Webedia, added: “Diwanee has all the elements of a successful player in the digital media space, a solid business model, strong management and a growing market segment. The capital injection is exactly what they needed to realize their potential. For Webedia, thanks to this operation, we are strengthening our position as a leader among digital media companies and continue with the Group's development internationally".
If you'd like more information or to schedule an interview with Hervé Cuviliez, CEO of Diwanee, please e-mail Melanie Euverte firstname.lastname@example.org