Maktoob makes profit

Maktoob.com has achieved profitability after five years of operation. The site offers users bilingual e-mail and content, while deriving most of its revenue from advertising.

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By  Matthew Southwell Published  January 28, 2004

Maktoob.com has finally achieved profitability after five years of operation. Created back in 1998, the site offers users bilingual e-mail, content and chat rooms and garners most of its revenue from online advertising. According to Samih Toukan, the web site’s chief executive officer, it has been Maktoob.com’s ability to retain high spending advertisers despite tight economic conditions that made it profitable during 2003. “Despite the economic downturn, we were able to retain key clients and add new ones such as Nokia, Pepsi, Twix and American Express among many others,” he says. “[Also,] we have a proven business model that creates substantial value for our clients… [and] we have always remained committed to ensuring that our spending remains in line with our growth forecast,” Toukan adds. Moving forward, the firm is confident that maktoob.com will continue to be profitable as it offers an increasingly wide range of services and products, such as its prepaid online shopping card, CashU card. In terms of geographies covered, Toukan predicts that Egypt, Saudi Arabia and the Gulf will remains the site’s biggest markets, although Morocco, Algeria, North Africa and even Iraq have significant growth potential.

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