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Cuvilliez didn't disclose the financial terms of the deal but told The Daily Star that it was one of the biggest involving a startup from the Middle East.More important than the cash injection, according to Cuvilliez, is the technological dimension that Webedia is now helping Diwanee with.Diwanee's most recent round of funding prior to its acquisition by Webedia was a $3.25 million private placement last year by MedSecurities Investment, a BankMed subsidiary.The similarities between the two companies allow them to share and co-develop the same technologies, Cuvilliez says.Diwanee generates most of its revenue from advertising and branded content, with 70 percent of its visitors coming from GCC countries, while the remaining 30 percent are from the Levant, Egypt and other countries. As a result of its acquisition by Webedia, Cuvilliez expects Diwanee to double the number of its monthly unique visitors in the next two to five years and increase its audience in Egypt and the Levant.
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