A well-funded UAE news startup runs aground

A well-funded UAE news startup runs aground

The ScoopMoniify was meant to speak to a new generation of investors in emerging markets — a population keen on investment apps, with an outsized enthusiasm for crypto, and an entrepreneurial streak. Unveiled by Egyptian billionaire Naguib Sawiris at a lavish launch party at Dubai’s Museum of the Future in November, the UAE-based outlet hired aggressively, spent prolifically, and made the competition take notice.But it quickly ran into the harsh…

How a Gulf financial news startup collapsed

Kelsey Warner of Semafor writes about Moniify, a financial news site backed by an Egyptian billionaire, has flopped. Warner writes, “Staffed up with alums from places like Al Jazeera, Bloomberg, VICE News, The Wall Street Journal, and the South China Morning Post, Moniify tried to differentiate itself in a quickly expanding landscape of fin-fluencers and financial […]

Sources: Moniify, a well-funded UAE financial news startup launched in November 2024, struggled to monetize and find an editorial strategy before pivoting

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