Intel today announced that Intel Capital, its investment organization, will be investing in two digital content companies: Jeeran and ShooFeeTV. The company also pledged to expand its World Ahead program through collaborations with the Jordanian government and other local and regional organizations.
The announcement was made in the presence of His Excellency Eng. Basem Al-Rousan, Jordanian Minister of Information & Communications Technology (MoICT) at the World Economic Forum – Dead Sea, Jordan.
Part of the US$50 million Intel Capital Middle East and Turkey Fund, this initiative represents Intel Capital’s first investments in Jordan, and follows four previous Intel Capital investments across the Middle East in the past six months. The funding will be used to help both companies pursue their regional growth and development plans as well as extend their product offerings.
His Excellency Eng. Basem Al-Rousan, Jordanian Minister of Information & Communications Technology said that Intel’s investment is a testament to the capability and potential of the Jordanian ICT sector. He particularly outlined the importance of the Content Industry as a main driver of internet penetration, especially as it relates to local and Arabic content. Al-Rousan also spoke to Jordan’s offering as a development and support destination of choice, highlighting the key role companies like Jeeran and ShooFeeTV play to that end. He also valued the partnership MoICT has with Intel, referring to their important contribution to the advancement of the Kingdom’s e-readiness.
“Intel is dedicated to the pursuit of educational, economic and technological growth and advancement in a bid to achieve overall community enrichment in Jordan and the region,” said Gordon Graylish, vice president Intel Europe Middle East and Africa. “Our investments in Jeeran and ShooFeeTV are directly in line with our strategy to continue supporting local entrepreneurship and encouraging local content creation in the Middle East.”
The companies benefiting from Intel Capital’s investment are:
Jeeran: The first User Generated online community to provide Arab users with the latest web technologies and the means to communicate and connect. It is currently the largest user-generated content site in the Arab world, reaching 1 million members and 7 million unique visitors per month.
ShooFeeTV: A content provider and aggregator of Arab satellite channel listings which centralize information for more than 120 channels including programming information, celebrity news, pictures and video clips with 200,000 entries increasing daily.