Deals
Music Streaming App Anghami Is Said to Weigh Sale Among Options
- Startup also begins fundraising plans, may hire JPMorgan
- Popular app faces competition from Spotify, Deezer in Mideast
Photographer: Justin Chin/Bloomberg
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Middle Eastern music streaming service Anghami is assessing its options for the business, including a potential sale to Dubai-based pay TV network Orbit Showtime Network, according to people familiar with the matter.
Anghami, Arabic for “my tunes,” could be valued at as much as $400 million if a deal goes ahead and several conditions are met, the people said, asking not to be identified as the discussions are private.