MBC GROUP invests in Wego
Wego and MBC GROUP (Middle East Broadcasting Centre) have announced a strategic partnership whereby MBC invested a significant amount to accelerate Wego’s growth across the region.
As part of this partnership, Wego’s popular and highly rated mobile apps and website will be heavily promoted across MBC GROUP’s various platforms throughout the year.
“We are thrilled to welcome MBC GROUP as a strategic partner and excited by the opportunities to grow and develop the Wego brand while leveraging MBC's huge audiences as well as their considerable brand building expertise”. He further added: "As we incorporate more video based editorial content and product merchandising to Wego’s online travel marketplace there is obvious crossover potential between MBC's programming and Wego’s online services. We look forward to exploring those opportunities together,” said Ross Veitch, CEO & Co-Founder of Wego.
Wego, one of the largest online travel marketplaces across the Middle East and North Africa (MENA) was founded in Singapore in 2005 and is now dual-headquartered in Dubai and Singapore after experiencing rapid growth across MENA. Wego entered the region relatively early launching fully localised mobile apps and website just in time to meet the demand from a new generation of MENA based travellers wanting to shop and book flights and hotels using smartphones. Wego quickly grew to become the most popular and trusted travel comparison service in the region by collaborating with hundreds of local and global airlines, hotels and online travel agents.
"We're excited to be welcoming Wego to our family, and extend our portfolio of leading mobile and digital services”. Zahreddine added: "I believe that applying MBC’s brand amplification platforms to Wego’s fabulous product offering will benefit both brands and anybody who books their travel online,” said Fadel Zahreddine, Group Director of Brand Management- Marketing, Branding, Digital Businesses- at MBC GROUP.
MBC GROUP, one of MENA’s leading multimedia companies, launched in 1991 in London as the first independent satellite-broadcasting group, and moved its headquarters to Dubai in 2002 from where it became the largest multimedia company in MENA. As a media pioneer, MBC now broadcasts to audiences of millions across MENA and beyond, and maintains an unrivalled leadership by developing innovative media platforms through which it delivers informative, educational and entertaining programming.
Dubai based investment bank Arqaam Capital facilitated this transaction. Other investors in Wego include Tiger Global Management, Crescent Point Group and SquarePeg Capital.