Deal was natural and fits very well: Toukan

Samih Toukan started his venture into the digital world with the launch of Maktoob.com. Little did he know that his community portal will attract attention from international giants such as Yahoo. Here he talks about why it is the right time to sell Maktoob.com to Yahoo, and what is next for the Jabbar Internet Group.


When did you start Maktoob.com?

I started the company with Hussam Khoury in 1999. Officially the company was registered in 2000 but the experimental project started in 1999.

How do you feel selling the company after more than a decade?

It's a mixed feeling. First of all I am very happy. It is the first internet success story, one of the first in the region. It is the first time I hear of a global media and technology company out of the US partnering and acquiring an Arab-grown technology and media company. So it makes me proud and really happy.

Will you be involved in the merged company?

Yes I am going to be involved as a consultant for Yahoo Maktoob, and I will be there to help out.

Are you happy with the selling price?

Yes, we are very happy with the price.

What prompted you to sell the company?

Maktoob has grown today into a leading position in the Arab World. We have a reach of more than 15 million users. It is the most well-known brand in the internet industry in the region. We thought the Yahoo partnership was a natural. It fits very well.

What will ownership look like after the deal?

Yahoo will own Maktoob.com and Maktoob Research 100 per cent. And Jabbar Internet Group will continue to be owned by the current investors.

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