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Yalla Group (company)

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Yalla Group
Founded2016
HeadquartersDubai, UAE
Key people
Saifi Ismail
ProductsYalla Live, Yalla Ludo, Yalla Parchis, and YallaChat
Websiteyalla.com

Yalla Group (Arabic: مجموعة يلا المحدودة) is a social networking and gaming company based in the Middle East and North Africa (MENA).[1][2]

Overview

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Yalla Group was founded in 2016 and is headquartered in Dubai, United Arab Emirates. It started with the launch of Yalla, a voice-centric group chat platform designed for users in the MENA region. In 2018, it launched Yalla Ludo, a casual gaming app featuring digital versions of traditional board games popular in the region, such as Ludo, alongside in-game voice chat.[2] THe company also launched YallaChat and Yalla Parchis.[3][4]

Performances

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In 2020, Yalla Group became the first UAE-based technology unicorn to list on the New York Stock Exchange (NYSE).[3] It raised around $139.5 million by listing 18.5 million American Depository Shares (ADS) at $7.5 each.[1][5][6] The ADS are traded under the ticker symbol "YALA."[2][7]

In 2022, Yalla Group's financial results indicated increase in both GAAP and non-GAAP net margins by 24.5% and 35.9%, respectively.[8][9] The company's total revenue for the first quarter of 2022 was primarily driven by its social networking services, which contributed AED 190.5 million, while gaming services accounted for AED 74.6 million.[10][8]

By the first quarter of 2024, Yalla reported revenues of AED 289 million, a 7.1% increase compared to the same period in 2023.[11][12][13] The company’s continued growth is attributed to its expanding user base and product diversification.[14][15][16]

Awards and recognitions

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Yalla Group has received awards in recognition of its contributions to technology and innovation in the MENA region:

  • Middle East Technology Excellence Awards by Asian Business Review (2021, 2022)[2]
  • Gold Award for Innovation in Social Apps by the Middle East and North Africa Stevie Awards (2022, 2023)[17]
  • Top 30 Overall EMEA Headquartered Publishers by Data AI's Level Up Top Publisher Awards (2022)[18]
  • Best Entertainment Platform UAE by International Business Magazine Awards (2022)
  • Dubai Gaming Star Award at the MENA Gaming Industry Awards (2024)[19][20]

References

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  1. ^ a b Godinho, Varun (2020-10-01). "Yalla Group becomes first UAE-based technology unicorn to list on NYSE". Retrieved 2024-10-28.
  2. ^ a b c d Reporter, Staff (2021-11-03). "Yalla Group shines in the Gaming - Media & Entertainment category at Middle East Technology Excellence Awards 2021 | Asian Business Review". asianbusinessreview.com. Retrieved 2024-10-28.
  3. ^ a b Leaders, Worlds (2023-03-16). "Saifi Ismail: Fostering Cultural Expertise to Bring New Content to the MENA Region". Worlds Leaders. Retrieved 2024-10-28.
  4. ^ Muhammad, Isa (2024-08-27). ""Our focus is undoubtedly on the Middle East market where we have unique advantages"". www.pocketgamer.biz. Retrieved 2024-10-29.
  5. ^ Birch, Kate (2023-10-09). "How UAE unicorn Yalla Group is reaching ever-greater heights". businesschief.ae. Retrieved 2024-10-28.
  6. ^ Jones, Donovan (2020-09-24). "IPO Launch: Yalla Group Targets $149 Million U.S. IPO". IPOs On TheStreet - U.S. IPO Research & Opinion. Retrieved 2024-10-28.
  7. ^ "UAE-based Yalla: From high-flyer to short seller target". Al Jazeera. Retrieved 2024-10-29.
  8. ^ a b Salian, Neesha (2022-11-16). "UAE-based Yalla Group reports revenue of Dhs839m in first nine months of 2022". Retrieved 2024-10-28.
  9. ^ Reporter, A. Staff. "Yalla Group posts non-GAAP net income of Dh117.9m". Khaleej Times. Retrieved 2024-10-29.
  10. ^ Salian, Neesha (2022-05-18). "UAE's Yalla Group reports revenue of Dhs265.7m in Q1 2022". Retrieved 2024-10-28.
  11. ^ "Yalla Group reports Dh289 million revenue for Q1-2024". gulfnews.com. 2024-05-21. Retrieved 2024-10-28.
  12. ^ الوطن, جريدة (2024-08-14). "مجموعة يلا المحدودة تعلن عن النتائج المالية للنصف الأول من 2024" [Yalla Group Limited announces financial results for the first half of 2024]. جريدة الوطن (in Arabic). Retrieved 2024-10-28.
  13. ^ Herald, The Gulf (2024-08-13). "Yalla Group sees 4.7% increase in H1 revenue to AED 587.3 million – The Gulf Herald". Retrieved 2024-10-28.
  14. ^ smart-schools. "Yalla Group Powers Up Gaming Experience with Dubai Esports Festival Collaboration". alamrakamy.com. Retrieved 2024-10-28.
  15. ^ "Yalla Group's H1 revenue grows 4.7% to Dh587.3 million". gulfnews.com. 2024-08-13. Retrieved 2024-10-28.
  16. ^ "Yalla Group (NYSE:YALA) Sees Large Volume Increase". MarketBeat. Retrieved 2024-10-28.
  17. ^ S, Amirtha P. (2022-03-25). "UAE's Yalla wins Gold accolade at MENA Stevie Awards 2022 - GCC Business News". www.gccbusinessnews.com. Retrieved 2024-10-28.
  18. ^ "UAE-based Yalla Group among data.ai's top 30 EMEA publishers for third consecutive year". gulfnews.com. 2023-07-10. Retrieved 2024-10-28.
  19. ^ "مجموعة يلا تفوز بجائزة نجمة دبي للألعاب خلال حفل توزيع جوائز قطاع الألعاب في الشرق الأوسط وشمال أفريقيا 2024" [Yalla Group Wins Dubai Gaming Star Award at MENA Gaming Awards 2024]. تحيا مصر (in Arabic). 2024-05-07. Retrieved 2024-10-28.
  20. ^ "توزيع جوائز قطاع الألعاب في الشرق الأوسط وشمال أفريقيا 2024 - جريدة المساء" [MENA Gaming Awards 2024 - Al-Masaa Newspaper]. almessa.gomhuriaonline.com (in Arabic). 2024-05-06. Retrieved 2024-10-28.


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