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Netflix loses almost 200k users for the first time in a decade

by WAYA Staff - Apr 20, 2022
Netflix loses almost 200k users for the first time in a decade

Netflix shares drop 25% after the streaming service loses 200k subscribers in Q1 for the first time in 10 years since 2011.

Netflix expects to lose two million more customers in the second quarter of 2022, according to a statement issued on Tuesday, marking its worst year ever since the company’s listing.

Netflix’s management attributed the decline to several reasons, including spread of password sharing, the increase in competition, and the economic conditions in the world.

Read more: Netflix suspends its services in Russia

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FinTech startup FlexxPay expands to Egypt

by WAYA Staff - Apr 20, 2022
FinTech startup FlexxPay expands to Egypt

FlexxPay, MENA tech platform for earned income access, has announced its expansion into Egypt. The business has grown across the United Arab Emirates and Saudi Arabia, and now extends its presence in MENA with the opening of a new office...

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Vodafone Egypt acquires 10% stake in Bee and Masary

by WAYA Staff - Apr 20, 2022
Vodafone Egypt acquires 10% stake in Bee and Masary

Vodafone Egypt acquires 9.99% stakes in Bee and Masary, the subsidiaries of Ebtikar Holding for Financial Investments. The acquisitions comes the MoU signed between the two companies in February 2021 in which Vodafone announced that it has acquired 20% stake in...

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Brmaja Technology Egypt acquires Saudi’s Brmaja Commercial

by WAYA Staff - Apr 18, 2022
Brmaja Technology Egypt acquires Saudi’s Brmaja Commercial

Brmaja Technology Egypt signed a memorandum of understanding (MoU) to acquire Brmaja Commercial Saudi Arabia which has a market value estimated at about $20m. This step comes within the group’s strategy on consolidating investment relations between the two countries in...

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Fashion tech startup Nessiam raises 3 million moroccan dirhams

by WAYA Staff - Apr 17, 2022
Fashion tech startup Nessiam raises 3 million moroccan dirhams

Nessiam, Morocco-based fashion tech startup, raised 3 million Moroccan dirhams, which accounts to almost $305k, under the 212 Founders program. This investment will allow Nessiam to become a benchmark brand in the MENA region and establish other product lines such...

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Procurement SaaS startup Penny launches a B2B marketplace

by WAYA Staff - Apr 14, 2022
Procurement SaaS startup Penny launches a B2B marketplace

Penny, Saudi-based procurement SaaS startup, launched Penny Souq, a B2B marketplace for the Saudi market. The startup has also partnered with Monshaat, SME Authority in Saudi Arabia, to enlist and support local merchants. The markeplace will include hundreds of major...

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UAE’s Uniphore acquires AI-powered knowledge automation solution Colabo

by WAYA Staff - Apr 14, 2022
UAE’s Uniphore acquires AI-powered knowledge automation solution Colabo

Uniphore, acquired Colabo, an AI-powered knowledge automation solution that specializes in extracting and utilizing information from structured and unstructured documents in real time. Colabo’s solution integrated into Uniphore’s conversational automation platform, enterprises will be able to leverage AI to extract knowledge...

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First Abu Dhabi Bank withdraws offer for Egypt’s EFG Hermes

by WAYA Staff - Apr 14, 2022
First Abu Dhabi Bank withdraws offer for Egypt’s EFG Hermes

First Abu Dhabi Bank (FAB) withdrew its offer to buy a controlling stake in Egyptian investment bank EFG Hermes. “After careful consideration and in the context of ongoing global market uncertainty and volatile macroeconomic conditions, First Abu Dhabi Bank has...

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