GCC digital market outlay at $4.5b
- 21 Jun 2022
Umang Bedi speaks to the media in Dubai on Tuesday.
Inayat-ur-Rahman, Business Editor
VerSe Innovation, currently valued at $5 billion has rolled out its offering of Dailyhunt in the Middle East countries including UAE, Saudi Arabia, Bahrain, Oman, Qatar, and Kuwait.
Umang Bedi, Co-founder, VerSe Innovation (Parent Company of
Dailyhunt) told Gulf Today that the UAE is one of the world’s most vibrant economies and is experiencing an exponential phase of growth, adding that the GCC is one the largest consumer markets in the world with huge digital outlay at $4.5 billion.
He noted that the Internet penetration is at 98% in the GCC market showing extremely savy market.
“As a part of our global expansion strategy, we are excited to bring Dailyhunt to audiences in the Middle East Market. Dailyhunt has constantly strived to deliver content that has informed, enriched, and entertained audiences in different languages. There is a tremendous opportunity to tap into the unmet content needs of the Middle East market, given the rich linguistic diversity and an extensive news consumption behavior of the market. In this strategic growth plan, we will soon expand Dailyhunt in Mena region.”
“Our choice of the UAE for Dailyhunt’s regional HQ is based on multiple factors, but none more persuasive than the UAE’s Centennial 2071 strategy conceived by its visionary leaders. The concept of planning for the next five decades is truly exemplary for a nation. We are enthusiastic about being part of this burgeoning economy where a pro-business government and multiple public sector entities have facilitated our establishment in a record time of two weeks. UAE’s future-focused government-backed by inspirational leadership continually develops mechanisms for a diversified knowledge economy,” Bedi said.