Ayman Hassan Saudi Gazette JEDDAH – ArabNet started in 2009 as a forum for digital professionals to connect and exchange ideas, and a platform for entrepreneurs to launch their ideas and startups, Omar Christidis, founder and CEO of ArabNet, told the Saudi Gazette prior to the three-day ‘ArabNet Riyadh 2014' that kicked off yesterday (Nov. 11). ArabNet Riyadh is considered as the largest gathering for digital professionals and entrepreneurs in the Kingdom, aimed to highlight the best of Saudi digital innovation, developments and trends. The conference will focus on the growth of digital Arabic content in the GCC and Saudi market; mobile apps, trends and habits; brand management and advertising; commerce, entrepreneurship and more. This year's edition is the first of ArabNet's events to be conducted entirely in Arabic with simultaneous translation of sessions into English. Some 80 high-profile speakers, and giants of the tech industry are lined up to attend ArabNet Riyadh. There will be face-to-face business interactions with over 40 prominent local, regional and global companies. There will also be great networking opportunities with more than 800 delegates. ArabNet Riyadh is showcasing some of the latest technologies, with talks on 3D printing and smart wearable. We're also thrilled to have the Oculus with us for the first time in the Kingdom, thanks to Facebook. The Oculus is a virtual reality headset and the company that develops it was acquired by Facebook in March for $2 billion.” “It was the early days for the Internet industry in the Middle East, with a small but active community who saw the potential for growth in the market. Developed markets were moving rapidly towards e-commerce and digital media, and we expected that the Arab markets would go the same direction,” he said. He cited that one of the obstacles they faced was building their network of people and organizations that are active in digital business and entrepreneurship. “We used social media to identify like-minded people in different markets across the Middle East, and traveled to do many face-to-face meetings. And our efforts paid off – we've grown to organizing three events per year in key Arab markets, including Riyadh, Dubai and Beirut, and we have launched a magazine focused on digital business in the region,” Christidis noted. One of the important factors for the success of ArabNet is their passion for and focus on technology and startups. “We are an active part of our industry, and we have strong relationships with the key players, which give us unique insights about the topics that are most critical. Over 5 years we have built a dynamic and engaged community, and collected a great amount of data and insights about the industry. For example, we maintain the largest database of Arab web and mobile startups, with more than 900 companies listed.” Christidis also noted that the digital market in the region is growing exponentially, and there are tremendous opportunities in every part of the sector. The market for online shopping is more than $1 billion regionally, and they estimate about $400 million of that is from the Saudi Arabian market. The market for online advertising is $300 million a year in the region, and growing 35% annually to reach an expected $1 billion by 2017. There is huge demand from corporations for mobile apps, social media marketing, and other services. On Facebook, Twitter and Youtube, he said that there are many other platforms that are already booming right now. Instagram built a tremendous community and was acquired by Facebook for $1 billion; and is one of the most popular social networks in Saudi Arabia today, including Pinterest, WhatsApp, Keek and Snapchat which are all growing fast. Christidis also mentioned other major successes in the region such as Souq.com which recently raised $75 million – the largest round of funding by an Arab startup. The company has an estimated value of more than $400 million. The first billion dollar Internet company could be seen in the next year or two. Moreover, Christidis claimed that Saudi Arabia is now the battleground for mass consumer services and online marketplaces, adding that nowhere is this competition more heated than in food delivery and transportation services. Local and regional players like Careem, Talabat, Hunger Station are going head-to-head with global giants like HelloFood, EasyTaxi and Uber. For those planning their career or building up their own business, Christidis advice is to first work in a business before starting their own company. Building a business is not the same as building a product, and demands lots of skills and experience that you can acquire first by working at a company. Relationships and reputation are also very important in the Middle East, and working at a company can help build those critical elements for success, he added.
