case study: opensouq

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OpenSouq is the name of one of the Arabic classifieds sites. Opensooq provides a free service to display ads for sale and purchase or services, jobs, and others. OpenSouq was started in 2000 by Boas, Libyan businessman Salah Al-Sharif. Within a year, the site managed to reach an average of 1 million visits per month. But the escalation of political crises in Libya in 2000 led to the suspension of the project, as it moved from Libya to the United States. In its twelfth year, Amina and founder Uday Al Salameen invested $ 1 million in the Opensooq website. Four million followed in the year two thousand and thirteen. Then the project moves to Jordan, then Salah Al-Sharif decides to leave the project and start a new experiment. In 2000, a group of investors was persuaded to pump fifteen million dollars into a new financing cycle. Transferring ownership of the project to the regular students marked a new start to the project. So cell phones were launched. The number of visits increased during that period to reach seven million visits per month and more than one hundred million surfers. The site ranks high among the defective ad sites in Kuwait, Jordan and Libya according to the number of ads. It also saw a significant increase in the number of visits and the number of page views. So is the number of times the application is downloaded. The company is currently developing its services and heading to open new markets. OpenSooq is an online marketplace for classifieds ads that allow anyone to buy, sell, or for individual companies. I described that I had to work. I got acquainted with a partner named Khaldoun Tabaza and Balshanna uh with a company called Riyada. It is a company that focuses on investing in the Arab world. This was part of the problems we're facing so I've gone from driving to the investment side, to trying to solve the problem first from there, before I start the project. Subsequently, Abraaj acquired the flagship company. Uh, we worked with the Abraj Company, which is an investment company, uh, in the Arab world, and welcome outside the Arab world. Uh, nearly three years ago. The environment is better than it was in the past, and more investors are becoming aware of the environment we live in and would like to invest in it. So I left the company while I was Khaldoun, and we whitewashed an idea called the Amina Group. And Amina Al-Group's idea is to invest - Oh let's talk about the Internet. And we managed to attract nearly fifty million dollars. Liver in the year 2012. Uh, we left towers, and the first thing on my mind was always that I would return to online classifieds or online buying or selling opportunities. Our role is based on the options that exist about us in the Arab world, and we discovered that, uh, the OpenSooq site is one of the excellent sites that frankly, uh, he wants to invest in. I sent it on the Internet. A very respectable person named Salah Al Sharif. That is why it was a process that meant moving Opensooq founder Salah Al Sharif to Amman and building a company around it that we acquired and invested in. We had the resources that enable us to transform the open market, like it was about four or five years ago, from just a semi-professional site to one of the largest internet companies in the Arab world. In many respects, there are a few companies that touch the lives of our users. Therefore, our main goal since the establishment of choosing, uh, these patterns, namely, electronic markets and advertising ads. The investments were in three phases. The first stage was the year 2000, a country, uh, we took a million dollars, and according to the growth that happened to us, uh, uh, we also took two thousand and four million dollars. Uh, five million, this is the total of their assets from the trust company. Uh, after that, in the year two thousand and five days, uh, we were able to convince a group of Europe and America, and they are now investing, uh, more than fifteen million dollars. Uh, in the year two thousand and five days. When one accomplishes the project on their own, the most important thing is that it revolves around the main distributors who will come in the beginning, and will assist them in moving to the next stage. The difficulties, as one based on it, will be many. Ultimately, you want the funny characters around you, the people to help you face the challenges you face on a daily basis. And with personalities who always support entrepreneurial ideas, let's talk or talk about new ideas without fear of failure. Introduce you to the open market. About us here is the quality section Advertisements about us. Who we are here is the department responsible for customer service that they manage to all of our clients. We are proud of our mobile advocates out there. This is part of us. Ninety percent of us today are mobile phone users. A large portion of this section comes out. We inform you of the department responsible for opening the website for a period of twenty-four hours, seven days. Four in the morning two in the morning. With the aim of technology, we always make sure that we all dealt with twenty-four hours of bar work. Here we are about yesterday's department, who are responsible for the quality of the site. We make sure that there are no problems, and that everything is working. Uh, it gives them wellness. They will see everything from behind everything around us. Who are we here, uh, uh, for different sections between mobile phones and candies. Who we are here The human resources department, who is in charge of human resources, in addition to the officials in the end, who make sure that money is not saved by us. I also present to you the department, which is a new department that we opened, where we did not focus on the world of sales, and we would like to serve customers more and more. We have people today in the office and at five o'clock welcome to the square and they sit there selling. And for help, they can sell to serve more employees, as well as more of our customers. We also work with those who are talking to clients, so they understand what problems they have, and which aren't working. Plus, if they can provide more services from us, and how can we serve them, then this is the open market. OpenSooq is an online marketplace It gives you the opportunity to be someone who can handle it or buy anything that comes to mind online. Uh, whether it is individuals or companies, whether new or used. The idea is that we are trying to get the seller and the company involved. At the same time, their givens reveal God. The number of the technical team has exceeded twenty five employees inside and outside Jordan, working together to build and develop the product for the website application as well. I work with all departments to make sure they work properly. They all put in their energy and hit the target that looks like here and they're happy. Also, let's get to the open market of the stage we are in and many other stages of the past. We have a team of ten employees. They just focus on quality every day. We also have testing mechanisms that work every day. In order to make sure all issues we issue are accident free. We always offer uh new features. These are the new features uh. Its goal is to make this platform comfortable and easy for the user to interact with the seller and the buyer easily. Of course, we are working on developing our chat feature on the basis that you can try to communicate only with the seller or buyer through text messages only. You can have multiple media such as pictures, video, audio, or what is audio. In addition, we are developing our search engines to support new challenges for us, such as Al-Arabiza, or many of these points. Building an accurate filtering system so that we help the buyer to reach the advertisement he wants as quickly as possible. The way to use the site or the application is very easy for the seller, but it uploads pictures and writes information about the advertisement. Is the data that we need to include in every product? Depending on which department it's written in, for example, someone wants to sell a watch, or wants to sell a cell phone, for example. What kind of mobile phone is necessary, what is the memory capacity, and the user is not a jailbroken or fraudulent user, that is, the data he might need. A problem with a machine that followed the hubs of the first axis that we call, which I help the customer when he tries to sell or sell faster, so his advertisement can be proven in the beginning or it can work like a repost. At the same time, the number of ads allowed is a free marketplace for individuals. But companies wanting to advertise more will buy a store. And the store helps it by removing the number of allowed ads per month. The third axis is the ads or banners that we see on the sites I mean. And every process that goes online, uh, becomes online payment. Through that, our offices are currently located in four countries in the Arab world. The importance of marketing varied according to the stages the open market went through. When we first started, the importance of marketing was not that important. Frankly, the focus was on the product we had, to make sure it was fully functional and actually functional. Ah, I will give the purpose to the seller and the buyer. Website or app marketing is important. We are using, but the most important is that we focus a lot on what we are building to reach many more with it. What is more important than my digital market. The recipe is that we increase the number of people who talk to every advertiser about us on the site, chat with them, or comment on their ads. With the stages of growth, with the investment that came to us, uh, in 2000, we likewise liked marketing, uh, on television. We discovered it was useless, and the main reason is that the majority of the new generation that we are looking for answers it in the open market, and spends its time on social media and on the Internet. The best thing is that the digital marketing has been very beneficial to us. It helped us, at least for us, that we grew up faster. The obstacles facing us are countless every day. We face a problem every day, we take a new challenge every day. We must try to solve a new problem. Any possible level means that you can think of challenges, which is for one to take one pill and leave it one by one. If one tries to think about the whole thing at once, frankly, he will read the problems. And forget the target. Egypt must remain. His goal is to grow up and try to communicate information or business with him and succeed with him. All of them, for example, what we encountered related to most of what is online payment. There is an Hai online payment problem. In addition, when one expands from one country to another, it is more difficult, and this means that we are more Arab countries. All existing laws, for example, in Jordan, differ from the existing laws in Libya, unlike the new Saudi laws, etc. This all expands, all I need extra resources for violin. To that extent, investing has brought about the third hurdle many entrepreneurs face when they're in business, I mean. At the same time, I mean, I can see things a lot better. A comparison of two thousand and six versus two thousand and five when we don't mean. At the same time, if one wanted to place the contract in front of him, what he would possess. When we invested in the open market, we had twenty to twenty-five million page views per month. And it had nearly two million monthly visits, today, thank God, Opensooq has nearly a billion and a half page views per month. In addition to thirty million monthly visits, the first thing we did was aim to have a hundred million views per month to guide you. We have reached one hundred and fifty million. We were happy, praise be to God, today a billion and a half, and God willing, the numbers will increase. At the same time, last year, in a thousand and a stash. More than five million people have been announced. We talked about a commodity or it was, for example, a car, phone, real estate, jobs, or services, I mean. As for growth, in the open market, of course, we depend on what one will focus on, for example, if we come, we talk about the watch page every month. The growth was more than sixty times. As for the number of visits that come to us on the site, it has almost increased to spread from two thousand to two thousand and seven thousand. At the same time, the sales numbers have increased almost to fifty percent. And they nearly died by the millions, they increased the number of ads that reach the site. In the year two thousand and seven days compared to the year two thousand, which is at midnight, we presented us with goals

Q) What is the Monetization Strategy in this platform?