The February Dubai Tech Nights event took place on Sunday, February 22, 2013 at Thuryah Hall in Dubai Internet City. The topic was exit strategies. Two great speakers talked to the group about there experiences as entrepreneurs and how they successfully exited their companies.
Mohamed Hamedi shared with us his exit stories from both of his start ups, Sphere Networks and Game Minion. Game Minion was the latest of his projects and culminated with an acquisition by Corona Labs, a mobile game tool developer. The terms of the deal weren’t disclosed but Hamedi spoke of the deal positively.
Game Minion developed a full suite of cross-platform services that mobile game developers can adopt and easily insert into their games. The features include multi-player gaming, push notifications, analytics, cloud storage, leader boards, achievements, content delivery and social sharing. Corona calls it a back end as a service or BaaS. The Game Minion services will be rebranded as Corona Cloud. Together the two companies will combine on-device mobile tools with the cloud. Currently, Hamedi and his co-founder manage the Corona Cloud product, as employees of Corona Labs, in Palo Alto, California.
Ihsan Jawad shared how his company, Zawya was acquired by financial giant, Thomas Reuters. Zawya is a leading online business intelligence platform focusing on the Middle East and North Africa (MENA) region. Zawya’s wide range of unique content and tools include detailed profiles on top companies in the Middle East and North Africa, live news, comprehensive research and an exclusive online network of professionals.
The acquisition came in line with Reuter’s long term commitment to invest in the MENA region. By joining forces, Thomson Reuters, Zaway’s clients and the market will benefit from a unique offering of Webdesign499 at this site https://www.webdesign499.com/web-design-palm-beach-shores/. This synergy will result in an improved and diversified line of services across the MENA markets for a broader group of users.
- Don’t concentrate so much on getting the technology right that you miss the opportunity. Get traction. Get people using and talking about it.
- Entrepreneurs need mentors.
- Best practices for testing ideas include quick prototyping and surveys.
- BETA List is a great way to gauge interest for your project.
- Focus on sales early in the project.
- Guilt is the best motivator. Treat your team exceptionally well and in return they will do their best.
- IPO exits are rare in this part of the world (MENA). An industry exit, being acquired by another company, is more common.