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Saudi investor acquires 10% of Spreado - Daily News Egypt

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Saudi investor acquires 10% of Spreado

Our target is to increase the company’s capital to reach EGP 250,000, says CEO


Spreado CEO Mohamed Ahmed (Photo handout to DNE)
Spreado CEO Mohamed Ahmed
(Photo handout to DNE)

After listing as a joint-stock company, start-up company Spreado targeted increasing its capital to reach EGP 250,000. The company received EGP 150,000 in funds in return for shareholders acquiring 15%.

This percentage is divided as 10% acquired by a Saudi businessman, while 5% is acquired by Start Up Recruit platform, a company specialised in supporting start-up companies through trainings and consultations. Spreado specialises in producing high-quality advertising videos.

Spreado CEO Mohamed Ahmed said procedures to convert the company from a private limited company to a joint-stock company have been concluded, hoping to increase its capital to reach EGP 250,000 within the next five years.

Ahmed said the company will start summer training for students. The teamwork will personally meet applicants, with six trainees to be accepted for training over several months. Afterwards, the most efficient trainees will be hired. Spreado, alongside five other local companies, undertook a business trip to Jordan, where they discussed their idea with other start-ups and businessmen.

He added that the company has 47 clients, and are targeting 400 clients by the end of this year.  Although the company’s clients are located worldwide, including in the UAE, Saudi Arabia, Jordan, France, the UK, Germany and Brazil, Egypt is their main opportunity to spread amongst Arab and European countries.

With regard to payment methods, Ahmed said that clients in Egypt use direct payments. In case the client is abroad, he uses the online payment method.

The client’s background concerning services offered by Spreado is the most challenging fact that faces the company. Some clients do not understand the fact that high quality videos need time. He added that the second challenge is the online payment method, so they are working to resolve it by all means.

 

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https://www.dailynewsegypt.com/2015/05/26/saudi-investor-acquires-10-of-spreado/
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