A unicorn is a beautiful and quite rare thing, don’t you agree?
A unicorn company is a company that is worth over a billion dollars.
From 2000 to 2013, there were only 39 unicorn companies around the world, and now, that number grew to become 282 unicorn companies. Yet sadly, only one of these unicorns exist in the Middle East.
And for 3.1 billion dollars, Careem reached the unicorn status, after its acquisition by Uber on the 25th of last March.
The start up ecosystem in Egypt is growing very fast and is looking very promising. And that’s why a unicorn company could and should exist here.
Just imagine how a unicorn company would impact and benefit Egypt’s economy, create jobs, and get investors from all around the world!
Founded by Omar Gabr and Moataz Soliman back in Feb. 2013, Instabug is an Egyptian tech based company that works with mobile developers to build better apps.
And they have been working on becoming Egypt’s first unicorn company ever since.
And boy, do they excel at what they do.
Instabug worked with Samsung, Ebay, Electronic Arts (EA), Lyft, Turkish Airlines, Soundcloud, Hulu, Souq, Etisalat, Verizon and many, many more.
It was awarded by Forbes with the #1 startup in Egypt back in 2016. And they have been working on becoming Egypt’s first unicorn company ever since.
Instabug also has a show called #LifeAtInstabug, where they talk about how the company started and how they’re working on achieving its vision.
In the latest episode, Omar Gabr is talking about the concept of a unicorn company, and how they’re working on being the first one in Egypt.