US venture capital fund North Base Media has made an investment in Abu Dhabi-based Majarra, a technology company that provides Arabic content online, as it continues to expand its global portfolio of digital media investments.
The funding round also included other GCC-based investors, Majarra said in a statement on Thursday. It did not disclose the size of the investment.
Majarra, formerly Haykal Media, offers a single subscription sign-on to a network of online content platforms in Arabic. The network includes Harvard Business Review Arabia, MIT Technology Review Arabia, Stanford Social Innovation Review Arabia, Popular Science, Fortune and Manhom.
NBM’s global perspective ... strengthens our commitment to deliver the best content and user experience for the Arabic-speaking internet users in the region and around the world
Abdulsalam Haykal,
executive chairman, Majarra
“NBM’s global perspective and unique insight into the industry strengthens our commitment to deliver the best content and user experience for the Arabic-speaking internet users in the region and around the world,” Abdulsalam Haykal, Majarra’s executive chairman, said.
“We’re delighted to have a high quality and specialised investor like North Base Media as a believer in our vision for a new business model that addresses the massive inefficiency of Arabic online content,”
The total funding secured by start-ups in the Middle East and North Africa region rose by 64 per cent in the first half of the year to $1.2 billion, according to start-up data platform Magnitt. The number of deals in the first six months of 2021, however, dropped by 20 per cent. Mena start-ups raised $1.09bn in the whole of last year.
The UAE led in terms of deal numbers, with start-ups based in the Emirates securing 61 per cent of all Mena investments, according to Magnitt. The UAE, Egypt and Saudi Arabia accumulated 71 per cent of total capital invested during the period, the data showed.
NBM, a Maryland-based venture capital fund, has been investing in early and mid-stage digital media companies focused on news, business, sports, gaming and entertainment in growth markets over the past decade. Strategic investors in NBM include Bloomberg Beta, Singapore Press Holdings, the family offices of Alibaba’s leaders and individual investors who lead funds in Asia and China, according to the company’s LinkedIn page.
It has invested in companies including Japan’s live-streaming platform Zaiko, Indonesia-based IDN Media, New York-based live media content provider Kiswe and Taiwan’s digital news brand The News Lens, among others, according to its website.
“We look for partners that combine content and technology to unlock the power of the internet in high growth markets,” Marcus Brauchli, NBM’s managing partner, said. “Majarra combines a bold business vision, a solid track record and a strategic approach to addressing the demand for quality Arabic language content.”
Mr Brauchli, a former editor at The Wall Street Journal and The Washington Post, will join Majarra’s board of directors.
“There is real untapped potential within media and entertainment when it comes to Arabic content – particularly online,” Michael Garin, chief executive of the twofour54 media free zone in Abu Dhabi, said. “This is a high-impact investment both in terms of the growth and development of the knowledge economy in our region, and also in helping unlock the potential of digital Arabic content.”
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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