USD170 Million Acquisition of Talabat.com What does it mean for Dubai Tech Startups?
RocketInternet is a German Based Incubator that builds e-commerce companies by replicating tried-and-tested business models in emerging markets outside US & China. One of the well know Rocket's internet Dubai Startups is Namshi.com co-founded by Rocket's internet Director and supported by their platform.
On February 11th, Rocket internet announced the largest Tech Startup acquisition in the middle-east of Talabat.com - famous food ordering platform. This is the second large acquisition for a middle-east startup following the USD 165Million Acquisition of Maktoob.com by Yahoo.
So what does this mean for Dubai Tech Startups:
1- This acquisitions boosts Tech Startup awareness among investors in the middle-east and hopefully increases the chance of having further Venture Capital money for Dubai Tech Startups. If you review the history of Silicon Valley, it was A- the government investment in 1940-50's and B- Venture Capital Firms and law that enable pension funds to invest in equities in 1980's that made Silicon Valley what it is today - a great place to attract talent and get rewarded for building great things. We need investor awareness in accompany with the Culture of pushing youth to build their companies rather than infinitely pursuing standard education system to make Dubai the "Silicon Valley of the Middle-East"
2- Hardwork pays off and your Startup could be next! Talabat.com started in 2005 and was bought off by loans and took them a good 10 years to be where they are today.. Dubai Tech Startups should expect no difference, startups are not easy but pay off greatly..
3- Dubai is set to become the most innovative and sustainable city in the middle east and there is lot of excitement around Dubai and what it can bring next. I believe, this will cement Dubai strategy and hopefully excite more people, investors, students, professionals to get into startups.
I truly believe Dubai is setup to success in this space; a great place to live offering all kind of lifestyles and lots of brains in Dubai but the infrastructure around Tech Startups from financing, to people culture, to increased number of technologists, programmers and coders is still at its enfancy!
Happy Coding for a more prominent Dubai Tech Startup community...