What is the concept of Almentor and how did the idea for it come about?
Fikry: Almentor.net is an online video-based continuous learning platform. I had millions of viewers on social media and TV where I used to deliver my knowledge and experience in management to young people. I also lectured in universities and authored several books alongside my full-time job. This inspired and encouraged me to build an online platform that provides knowledge to all Arabs around the world as I witnessed the high demand for Arabic content and the lack of courses available for young Arabs that don’t speak other languages. I eventually decided to resign from ExxonMobil after over 20 years, as did the co-founder of Almentor, Ibrahim Kamel, leaving behind us 7-digit severance packages to devote 100 per cent of our efforts to bring our dream to life.
Give us an overview of the Arab e-learning market size?
Fikry: According to our market research, the addressable market is a population of over 400 million individuals, 60 per cent of whom are between the ages of 18 to 40, across both genders – our target audience. Moreover, about 25 million people are ready as of 2021 to consume continuous content online in the MENA region with a potential to reach 100 million by 2030 at an average annual spend of $30-40 per learner.
You recently received $6.5m in a Series B funding round. To what end will this new injection of capital be used?
This story is from the July 2021 edition of Gulf Business.
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This story is from the July 2021 edition of Gulf Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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