Beirut-based podcast platform Podeo has raised an undisclosed amount of funding in a seed round led by Razor Capital, it announced today. The round was also joined by Globivest VC, and individuals in different media and technology companies.
Founded in 2019 by Stefano Fallaha, Podeo is building the Netflix of Arabic podcasts. The startup aggregates Arabic and English podcasts that users can listen to on its mobile app. The media startup also produces its own original podcast shows and claims to have the largest catalog of Arabic podcasts featuring hundreds of exclusive shows.
There are multiple VC-backed Arabic podcast producers in the region but what sets Podeo apart is the fact that it is also building the technology to help users discover podcasts and listen to them on its own platform.
It plans to use the latest funds to enhance its app with additional discoverability and personalization features, Podeo’s founder and CEO Stefano Fallaha told MENAbytes adding that they will be investing heavily in expanding their content library and userbase as well. It is Stefano’s second audio startup. He has previously also built Fallound,
The startup currently makes money by partnering with brands to offer them different types of audio ads. The podcasts are completely free for the users to listen to but it is obvious that Podeo will introduce different subscription options for the listeners after expanding its catalog in the future.
Ramzi Farah, the Managing Partner of Razor Capital, said, “What instantly caught our attention was the team’s ability to place Podeo in a prime position to move the audio industry forward with new technologies and a clear content strategy. We are excited to work alongside Stefano and the team as they continue to promote podcasts throughout the Arab world.”
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