Dubai Internet City announces expansion plans of Yebab.com

Dubai, Feb 5, 2012 (WAM) - E-commerce will witness an upward growth trend in the UAE, Saudi Arabia and Egypt with Internet retail sites touching US$1bn sales in 2011 for the first time, according to industry analysts Euromonitor International. This evolution is due to the increasing internet user-base in these countries and more Arab shoppers moving to an online purchasing model, said senior management from Dubai Internet City and Yebab.com, the region's leading and the only online wedding directory in Arabic. The comments came during a press conference hosted by Dubai Internet City and Yebab.com to announce the expansion plans of the wedding portal in the UAE and the region. Senior management from Dubai Internet City, Yebab.com, portal investors National Net Ventures (N2V), and Kharabeesh, partner in the Emirati cartoon with Yebab.com, attended the event. Yebab.com was one of the participants at DemoCamp Dubai, an initiative spearheaded by DIC as part of its continuing support to emerging entrepreneurs. DemoCamp Dubai offers a crucial platform for tech entrepreneurs to demonstrate their innovative concepts to an audience of investors and venture capitalists. Yebab raised its first round of investment from this event and since then has grown from 30 online retailers on the website in 2008 to more than 1,400. Revenue has nearly doubled while traffic has increased tenfold in 2011 compared to the previous year. The site, which provides brides with comprehensive wedding planning services, from gown selection to photography, catering, and venue booking, has cornered a lucrative market by focusing on Emirati weddings. As part of its expansion plans in 2012, the internet firm aims to extend its services to Saudi Arabia and Egypt. Majed Al Suwaidi, Director at Dubai Internet City and Dubai Outsource Zone, said, "Online and e-commerce business models have changed across the region due to the increasing Internet penetration and the transformation of usage models. At DIC, we are already seeing this evolution due to our regular interaction with entrepreneurs and their innovations that are based on mobile and internet technologies. ". Murshed Mohamed, CEO, Yebab.com, said, "Saudi Arabia and Egypt have a huge population base and we have a considerable amount of traffic coming from these countries" "The plan from the beginning was to follow the 'Lean Start-up' concept testing different business models and adapting to what works for our business. This was also done keeping in mind the needs and requirements of the consumer. Therefore, the website focused on giving the bride a new experience by reducing the time spent online and bringing in innovative design concepts", he added. - Emirates News Agency, WAM