Step Group (the name behind stepfeed.com and yallafeed.com), has just closed a series of funding around $2 million; from Wamda Capital, Capital firm North Base Media, Equitrust and Dubai Silicon Oasis Authority. The above listed are regional investors.
Since the portals went live (which is about 18 months ago), they have gained more than 3 million sole monthly users and 6 million monthly views. Of recent, the group acquired the video cotent platform Arab Vines.
“We identified a growing gap between Arab millennials and the mainstream media, and saw the need to bridge this with a dynamic new media platform. The growth strategy is ambitious and this investment will help us. We aim to more than quadruple the user base across our platforms within the next 12 months to reach more than 10 million users and 30 plus million monthly views, and further develop our recently launched Step Video capability”, said Ray Dargham (Step Group Co-founder and CEO).
It is also known that the group also owns Steep Conference, start-up conference and the technology in the region.
“Young Arabs are hungry for content that relates to them. They are in real need of a voice that represents them, and our platforms speak to the needs, aspirations and dreams of the region’s most active generation”, said Dargham.