Arabic Q&A site Jawabkom turns down 4 VCs

Arabic Q&A site Jawabkom turns down 4 VCs

February 23, 2016

wamda.com -

Jawabkom, an Arabic language question and answer site featuring certified experts in dozens of fields from all over the Arab world, registered its millionth user in just seven months. “We never imagined we’d be hitting these numbers,” says cofounder and serial entrepreneur Raed Malhas on a call last week with Wamda. “Jawabkom has blown our minds.”

But not only is Jawabkom, launched last February, smashing big records; its team is also taking controversial decisions with regards to the startup’s future. After beginning to turn a consistent profit in November, and seeing user and revenue numbers multiply exponentially since then, Malhas found himself in a rarefied position as an entrepreneur: having the luxury to turn down money in the interest of staying hungry.

“I spoke to all the interested VCs [three in the Middle East and one in Silicon Valley] this week and turned down all their offers,” the entrepreneur reveals. “What are we going to do with the VC money besides give ourselves a fat salary? Our resources have always been really tight [they raised $450,000 from two angel investors shortly after launch], and therefore our decisions have been carefully considered. We wouldn’t have been this focused if we’d had money in the bank.”

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