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Case HBS Case Collection July 2018 Financing Anghami's Growth |
In December 2012, less than two years into the founding of their music-streaming platform Anghami, cofounders Elie Habib and Eddy Maroun found themselves evaluating an unorthodox term sheet. Habib and Maroun needed to make a decision vis-à-vis the proposal put forth by the MBC Group, the region’s largest media network. The offer was a media-for-equity deal, which would provide Anghami with advertising towards the media giant’s millions of viewers and boost its chances of competing with the likes of iTunes and Spotify in the Middle Eastern market. However, the deal would also cost the cofounders a significant share of their company and might place them in the middle of a rivalry between MBC and Rotana, the region’s largest music label. The case takes the reader through the co-founders’ journey, from the founding of the company to the successes and challenges they have faced navigating product launch, scale-up, and partnerships.
Keywords: Growth; Startups; Copyright; Business Startups; Business Model; Music Entertainment; Decisions; Technological Innovation; Venture Capital; Online Technology; Growth and Development Strategy; Financial Strategy; Product Marketing; Product Launch; Product Development; Expansion; Technology Platform; Agreements and Arrangements; Valuation; Decision Making; Middle East; Lebanon;
Nanda, Ramana, and Eren Kuzucu. "Financing Anghami's Growth." Harvard Business School Case 819-033, July 2018.
