Draft:Yalla Group
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| Company type | Private |
|---|---|
| Industry | Social networking and entertainment |
| Founded | 2016 |
| Founder | Saifi Ismail |
| Headquarters | Dubai, UAE |
| Products | Yalla Live, Yalla Ludo |
Number of employees | 800+ |
| Website | yalla |
Yalla Group is a Middle East and North African-based online social networking and gaming company that operates two flagship mobile applications: Yalla and Yalla Ludo.[1]
Overview
[edit]Yalla Group Limited was founded in 2016 and is headquartered in Dubai. The company first launched Yalla Live, a voice-centric group chat platform in the Middle East and North Africa that provides social networking services, including chat audio, to users in the MENA region.[1] As of 2023, Yalla Group Limited has over 800 employees from 13 different countries.
In 2020, Yalla Group Limited became the first UAE-based technology unicorn company to list on the New York Stock Exchange (NYSE).[1] The company raised around $139.5 million by listing 18.5 million American Depository shares priced at $7.5 each.[2][3][4] Yalla Group Limited listed its American Depository Shares on the New York Stock Exchange under the symbol "YALA."
Yalla Group Limited is the largest MENA-based online social networking and gaming company, in terms of revenue in 2022".[5] The Company operates two flagship mobile applications, Yalla, a voice-centric group chat platform, and Yalla Ludo, a casual gaming application featuring online versions of board games, popular in MENA, with in-game voice chat and localized Majlis functionality.[1] Building on the success of Yalla and Yalla Ludo, the Company continues to add engaging new products, creating a regionally-focused, integrated ecosystem dedicated to fulfilling MENA users' evolving online social networking and gaming needs.
In 2022, Yalla Group Limited’s financial results showed that generally accepted accounting principles (GAAP) and non-GAAP net margins during the first quarter increased by 24.5 percent and 35.9 percent, respectively. The major share of the total quarterly revenue was generated from chatting services, recording AED190.5 million, while revenue posted by games services was estimated at AED74.6 million of the total revenues.[6]
Through its holding subsidiary, Yalla Game Limited, the Company has expanded its capabilities in mid-core and hard-core games in the MENA region, leveraging its local expertise to bring innovative gaming content to its users. In addition, the growing Yalla ecosystem includes YallaChat, an IM product tailored for Arabic users, and casual games such as Yalla Baloot and 101 Okey Yalla, which were developed to sustain vibrant local gaming communities in MENA. Yalla is also exploring outside of MENA with Yalla Parchis, a Ludo game designed for the South American markets.[1] Yalla's mobile applications deliver a seamless experience that fosters a sense of loyalty and belonging, establishing highly devoted and engaged user communities through close attention to detail and localized appeal that profoundly resonates with users.
In 2023, Yalla Group Limited announced the establishment of a Sustainable Account for Cash Management in partnership with Standard Chartered. The bank’s Sustainable Accounts aimed to support corporate clients in contributing to sustainable development while maintaining access to their finances for liquidity management needs.[7]
In 2024, Yalla Group Limited reported AED 289 million in revenue for the first quarter of 2024. The financial results revealed that Yalla's quarterly revenues surpassed AED 289 million, a 7.1% increase from Q1-2023.[8][9][10] In April 2024, Yalla Group collaborated with the Dubai Esports Festival. Yalla Ludo will host the Game Battle tournament within the festival as part of the collaboration.[11][12]
Awards
[edit]- Middle East Technology Excellence Awards by Asian Business Review (2021)
- Gold Award for Innovation in Social Apps by the Middle East and North Africa Stevie Awards (2022)
- Top 30 Overall EMEA Headquartered Publishers by Data AI's Level Up Top Publisher Awards (2022)[5]
- Middle East Technology Excellence Awards by Asian Business Review (2022)
- Best Entertainment Platform UAE by International Magazine Awards (2022)
- Best Voice-Based Social Network UAE by International Magazine Awards (2022)
- Gold Award for Innovation in Social Apps by the Middle East & North Africa Stevie Awards (2023)
- Dubai Gaming Star Award at the MENA Gaming Industry Awards (2024)[13][14]
References
[edit]- ^ a b c d e Leaders, Worlds (2023-03-16). "Saifi Ismail: Fostering Cultural Expertise to Bring New Content to the MENA Region". Worlds Leaders. Retrieved 2024-09-30.
- ^ Godinho, Varun (2020-10-01). "Yalla Group becomes first UAE-based technology unicorn to list on NYSE". Retrieved 2024-09-30.
- ^ Birch, Kate (2023-10-09). "How UAE unicorn Yalla Group is reaching ever-greater heights". businesschief.ae. Retrieved 2024-09-30.
- ^ Jones, Donovan (2020-09-24). "IPO Launch: Yalla Group Targets $149 Million U.S. IPO". IPOs On TheStreet - U.S. IPO Research & Opinion. Retrieved 2024-09-30.
- ^ a b "UAE-based Yalla Group among data.ai's top 30 EMEA publishers for third consecutive year". gulfnews.com. 2023-07-10. Retrieved 2024-09-30.
- ^ Salian, Neesha (2022-05-18). "UAE's Yalla Group reports revenue of Dhs265.7m in Q1 2022". Retrieved 2024-09-30.
- ^ "Yalla Group teams up with Standard Chartered for Sustainable Account". gulfnews.com. 2023-08-03. Retrieved 2024-09-30.
- ^ "Yalla Group reports Dh289 million revenue for Q1-2024". gulfnews.com. 2024-05-21. Retrieved 2024-09-30.
- ^ الوطن, جريدة (2024-08-14). "مجموعة يلا المحدودة تعلن عن النتائج المالية للنصف الأول من 2024". جريدة الوطن (in Arabic). Retrieved 2024-09-30.
- ^ Herald, The Gulf (2024-08-13). "Yalla Group sees 4.7% increase in H1 revenue to AED 587.3 million – The Gulf Herald". Retrieved 2024-09-30.
- ^ smart-schools. "Yalla Group Powers Up Gaming Experience with Dubai Esports Festival Collaboration". alamrakamy.com. Retrieved 2024-09-30.
- ^ "Yalla Group's H1 revenue grows 4.7% to Dh587.3 million". gulfnews.com. 2024-08-13. Retrieved 2024-09-30.
- ^ "مجموعة يلا تفوز بجائزة نجمة دبي للألعاب خلال حفل توزيع جوائز قطاع الألعاب في الشرق الأوسط وشمال أفريقيا 2024". تحيا مصر (in Arabic). 2024-05-07. Retrieved 2024-09-30.
- ^ "توزيع جوائز قطاع الألعاب في الشرق الأوسط وشمال أفريقيا 2024 - جريدة المساء". almessa.gomhuriaonline.com (in Arabic). 2024-05-06. Retrieved 2024-09-30.