In a major improvement for the MENA podcast market, UAE-based distribution platform Podeo has raised USD 5.4 million (EGP 174 million) in a Sequence A funding spherical led by Oraseya Capital, with contributions from Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and returning investor Razor Capital.
The brand new funding will assist Podeo increase its attain into rising markets, together with Latin America, Japanese Europe, and Southeast Asia.
Based in 2020 in Lebanon by Stefano Fallaha, Anthony Essaye, and Mario Hayek, Podeo empowers creators to monetize their content material by means of a complete platform.
Podeo’s unique distribution partnerships transcend conventional streaming apps, extending publicity to radio stations, airways, ride-hailing companies, gaming platforms, and chat apps. They at the moment have a neighborhood of over 100,000 creators and a world viewers of greater than 50 million listeners.
Although it initially started as a podcast app, Podeo transitioned to a distribution-first mannequin, connecting podcasters with a community of intermediaries and providing them superior instruments to construct and interact loyal audiences.
Podeo has revolutionized the MENA podcasting market, as in simply two years, the platform has fueled a 50-fold enhance in regional podcast content material, increasing from a base of two,000 podcasters.
Creators who be a part of Podeo usually see their viewers measurement develop by 166 p.c inside a month, due to the platform’s streamlined migration course of and highly effective distribution community.
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