Latest news with #Moniify
Mint
8 hours ago
- Business
- Mint
Billionaire Naguib Sawiris scales back Moniify, ambitious ‘TikTok generation' aimed venture — here's why
Egyptian billionaire Naguib Sawiris' Moniify, described as 'CNBC for the TikTok generation' and was launched with great pomp in Dubai late last year, is scaling back operations just months later, Bloomberg reported. The report noted that Moniify was meant to be a culmination of Sawaris' (worth $8.4 billion), five decades in business and a second shot in the media business. A new media platform, billed as 'CNBC for the TikTok generation', Moniify aimed to share with the ambitious youth the 'secrets' to building wealth — drawing from Sawaris' years of experience building his own empire. The venture was launched in November 2024, and began hiring staff from New York to the Middle East at good packages. The report noted that initial consensus was that the company would make losses, but had 'reassurance of deep pockets' from its owner. Speaking at the launch, 70-year-old Sawaris said, 'At my age, you start thinking 'I need to do something for my legacy, something to give back to society'. So with all the money we spent on Moniify, it gets booked under this section.' 'Young people were always asking me how they could also become rich. So I thought, ok, why not provide a tool, a platform that gives everything in a package to help these young people achieve their dreams. I always like to give back to society and better to give to the young, to the millennials. That was the motive,' he said in a video for Moniify. According to the Bloomberg report citing sources, Sawaris appeared to have a 'change of heart', starting with slashes in budget and promotion, followed by layoffs in January 2025, then CEO Micheal Peters (formerly with Euronews) left, and was replaced with Sawaris' daughter Lana. Staff received no explaination, it added. Omar Al-Ghazzi, associate media and communications professor at the London School of Economics and Political Science told the publication that a huge barrier is how to attract the young while striking a 'balance between innovation and cringe'. Spokespeople for Sawaris did not repond to queries, while Peters declined to comment, the report added. The sources said Sawaris was unprepared for the cash burn — estimated to be tens of millions of dollars, and the fact that there was no clear path to profits. They added that the mogul was in Dubai early in 2025 and sought help for business planning and monetisation from journalists at an internal meeting — indicating that he was out of the loop. Weeks after launch the venture was scaled back and layoffs began — especially hitting those who relocated to the UAE and now had strict visa requirements to meet. Sawaris' daughter Lana took over after Peters departure. She has prior experience as a digital communications manager for Christian Louboutin and Art Director of Kith. At present, Moniify is only generating short media format and written content focused on personal finance. In a recent video she said: 'Finance, business, entrepreneurship — it should all be entertaining too.' (With inputs from Bloomberg)
Bloomberg
4 days ago
- Business
- Bloomberg
Billionaire Guts Media Firm Weeks After Glitzy Dubai Launch
By and Ainsley Thomson Save It was meant to be the last hurrah of a billionaire's near five decades of deal-making — and a second shot at success in the media business. Naguib Sawiris, who'd built a $8.4 billion fortune in some of the world's toughest markets, set up Moniify last year as a kind of CNBC for the TikTok generation. Based out of booming Dubai, it was envisaged as a new media platform to dispense the secrets of wealth-building to an ambitious young audience across key emerging markets. And all backed by someone who'd done it himself.
CairoScene
20-05-2025
- Business
- CairoScene
UAE-Based Financial Media Platform Moniify Taps Lana Sawiris as CEO
UAE-based fintech media platform Moniify has named Lana Sawiris as its new CEO as it pivots from traditional operations to a video-first strategy focused on financial education for younger users. May 20, 2025 Moniify, the financial media startup founded by Egyptian businessman Naguib Sawiris, has appointed Lana Sawiris as its new Chief Executive Officer. The announcement follows an internal restructuring and signals a new strategic direction for the company. Founded in November 2024 and headquartered in the UAE, Moniify launched with a mission to provide financial news and content tailored to younger users in emerging markets. The platform raised around $50 million in initial investment, with significant operational costs projected annually. Now under Lana Sawiris's leadership, Moniify is pivoting to short-form video content, with a focus on financial literacy and digital storytelling. The new approach is designed to engage Gen Z and millennial audiences through mobile-first, accessible media formats. Sawiris brings experience from consumer-facing brands including Christian Louboutin and Kith, and is expected to lead the platform's transition away from traditional publishing toward a model driven by social-first video and educational tools.
Campaign ME
08-05-2025
- Business
- Campaign ME
Khaleej Times appoints Ted Kemp as Chief Content Officer
Khaleej Times has announced the appointment of Ted Kemp as its new Chief Content Officer. The addition to one of the UAE's longest-standing English-language newspapers's leadership bench comes in an effort to keep pace with the region's rapidly changing media landscape. With a sharper focus on digital storytelling, real-time coverage, and audience engagement, Kamp's appointment aims to continue to build stronger connections with a younger, increasingly diverse readership across the GCC and MENA. Charles Yardley, Chief Executive Officer of Khaleej Times, said, 'Ted's leadership will be instrumental as we accelerate our digital transformation and expand our reach across the GCC and MENA regions. His passion for journalism and innovative thinking make him an ideal fit for Khaleej Times.' A seasoned editorial leader with over two decades of experience in media and international journalism, Kamp has built a strong track record in driving strategic growth and expanding audiences. He most recently served as Editor of Moniify in Dubai, where he led a dynamic newsroom delivering content to millennial and Gen Z audiences across the Middle East, India, and Southeast Asia. Prior to this, he also served as Managing Editor at CNBC International, overseeing EMEA and APAC editorial operations from Singapore and delivering record-breaking digital audience growth. Mohammed Galadari, Co-Chairman and Group CEO, added, 'On behalf of Khaleej Times, I warmly welcome Ted. His extensive experience and forward-looking vision will be crucial as we continue to redefine excellence in content creation. Together, we look forward to shaping the future of journalism and delivering compelling narratives that resonate with our diverse audiences.' In his new role, Kemp will lead the Khaleej Times newsroom, and has been tasked with championing the title's commitment to journalism, and spearheading innovation across editorial functions. Khaleej Times says his appointment comes at a pivotal time for the brand, which claims to be currently reaching the largest audience in its history. Readers under the age of 35 now account for 40 per cent of Khaleej Times' audience, with growth largely driven by its KT Plus platform. Commenting on his appointment, Kemp said 'It's the professional opportunity of a lifetime to join Khaleej Times, an organisation that has gained universal esteem over the years. It's not just the brand's rich heritage that excites me – it's the future. Khaleej Times stands as one of the most powerful and trusted news outlets in the most dynamic region on the planet. The editorial team holds in its hands the opportunity not only to reflect the UAE and the wider region, but to help define it. That's what inspires me.'
Campaign ME
07-05-2025
- Business
- Campaign ME
Khaleej Times appoints Ted Kamp as Chief Content Officer
Khaleej Times has announced the appointment of Ted Kamp as its new Chief Content Officer. The addition to one of the UAE's longest-standing English-language newspapers's leadership bench comes in an effort to keep pace with the region's rapidly changing media landscape. With a sharper focus on digital storytelling, real-time coverage, and audience engagement, Kamp's appointment aims to continue to build stronger connections with a younger, increasingly diverse readership across the GCC and MENA. Charles Yardley, Chief Executive Officer of Khaleej Times, said, 'Ted's leadership will be instrumental as we accelerate our digital transformation and expand our reach across the GCC and MENA regions. His passion for journalism and innovative thinking make him an ideal fit for Khaleej Times.' A seasoned editorial leader with over two decades of experience in media and international journalism, Kamp has built a strong track record in driving strategic growth and expanding audiences. He most recently served as Editor of Moniify in Dubai, where he led a dynamic newsroom delivering content to millennial and Gen Z audiences across the Middle East, India, and Southeast Asia. Prior to this, he also served as Managing Editor at CNBC International, overseeing EMEA and APAC editorial operations from Singapore and delivering record-breaking digital audience growth. Mohammed Galadari, Co-Chairman and Group CEO, added, 'On behalf of Khaleej Times, I warmly welcome Ted. His extensive experience and forward-looking vision will be crucial as we continue to redefine excellence in content creation. Together, we look forward to shaping the future of journalism and delivering compelling narratives that resonate with our diverse audiences.' In his new role, Kamp will lead the Khaleej Times newsroom, and has been tasked with championing the title's commitment to journalism, and spearheading innovation across editorial functions. Khaleej Times says his appointment comes at a pivotal time for the brand, which claims to be currently reaching the largest audience in its history. Readers under the age of 35 now account for 40 per cent of Khaleej Times' audience, with growth largely driven by its KT Plus platform. Commenting on his appointment, Kamp said 'It's the professional opportunity of a lifetime to join Khaleej Times, an organisation that has gained universal esteem over the years. It's not just the brand's rich heritage that excites me – it's the future. Khaleej Times stands as one of the most powerful and trusted news outlets in the most dynamic region on the planet. The editorial team holds in its hands the opportunity not only to reflect the UAE and the wider region, but to help define it. That's what inspires me.'
