Spotify officially available in MENA

Music fans rejoice – if you’re tired of listening to radio stations with overly-enthusiastic DJs and a million ad breaks, then you’ll be glad to know that Spotify has finally launched in the MENA region.

The launch is across thirteen countries in the region, including UAE, KSA, Morocco, Egypt, Algeria, Tunisia, Lebanon, Jordan, Kuwait, Oman, Qatar, Bahrain and Palestine. With the launch in MENA, Spotify’s global reach expands to 78 markets worldwide.

Spotify will support a full-localized Arabic interface and locally-curated playlists, offering over 40m songs in local and international music, as well as its discovery and music recommendation features.

“I am super excited to share with you that, from today, Spotify is now available across the Middle East and North Africa,” said Cecilia Qvist, Spotify’s Global Head of Markets. “Spotify is launching in MENA with a full Arabic service, dozens of locally-curated playlists for every mood and moment, and access to a full catalog of millions of songs, for both our free and premium users. Music fans will also enjoy Spotify’s personalised music recommendations from day one, which will help them to enjoy, discover and share new music from both local and international artists simply and easily.”

Pricing

Spotify offers both free and premium subscriptions, with the entire catalog being available to both tiers. In the UAE, pricing is set at AED 19.99 per month for a premium subscription, which offers offline listening, higher audio quality, no ads, and integration with smart devices such as Amazon Echo.

The Spotify app is available now for both Android and iOS devices, as well as other streaming devices such as smart TVs and gaming consoles.

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Snap is being probed over its IPO because some investors are salty about losing money

Here’s something I didn’t expect to read today. The U.S. Justice Department and Securities and Exchange Commission has subpoenaed Snap for details on its IPO apparently in connection with a lawsuit from disgruntled shareholders who claim the company played down its rivalry with Instagram.

Reuters first reported on the subpoenas which Snap has confirmed. Precise details aren’t clear at this point but Snap told Reuters that the probe is likely “related to the previously disclosed allegations asserted in the class action about our IPO disclosures.”

Snap went public last March with sharing popping over 40 percent on its debut to give it a valuation of $30 billion. It’s market cap today is a more modest $8.9 billion due to numerous factors including, most prominently, the efforts of rival Facebook to compete with Instagram, which has rolled out a series of features that mimic Snap’s core user experience.

That cloning has taken its toll on Snap’s business.

Today, Instagram’s Stories — the feature that closely resembles Snap’s app — has some 400 million users, that’s more than double the users of Snap. But it is far-fetched to claim that Snap played down that threat when it went public, which is what the class action case claims.

The writing had been on the wall for some time as Snap noted in its S-1 filing ahead of the IPO:

We face significant competition in almost every aspect of our business both domestically and internationally. This includes larger, more established companies such as Apple, Facebook (including Instagram and WhatsApp), Google (including YouTube), Twitter, Kakao, LINE, Naver (including Snow), and Tencent, which provide their users with a variety of products, services, content, and online advertising offerings, and smaller companies that offer products and services that may compete with specific Snapchat features. For example, Instagram, a subsidiary of Facebook, recently introduced a “stories” feature that largely mimics our Stories feature and may be directly competitive. We may also lose users to small companies that offer products and services that compete with specific Snapchat features because of the low cost for our users to switch to a different product or service. Moreover, in emerging international markets, where mobile devices often lack large storage capabilities, we may compete with other applications for the limited space available on a user’s mobile device. We also face competition from traditional and online media businesses for advertising budgets. We compete broadly with the social media offerings of Apple, Facebook, Google, and Twitter, and with other, largely regional, social media platforms that have strong positions in particular countries.

But even if an investor something didn’t read that document or reports of it (not advised) there was ample press coverage of the growth of Instagram Stories, and Facebook’s general Snap cloning efforts, since its launch in August 2016.

In particular, TechCrunch covered the rivalry and cloning closely ahead of Snap’s IPO with reports that showed Instagram was “stealing” Snap users, that it was responsible for slowing user growth and more.

In short, it was fairly clear that Instagram was cloning Snap, which in turn was a key factor for Snap’s growth struggles.

Don’t get me wrong there’s certainly a lot to worry about over at Snap — those poor user numbers, a string of executive exits and a strange u-turn on a recent hire — but this lawsuit looks to be little more than sour grapes from investors who either didn’t fully understand the space they invested in, or simply made a poor decision to back Snap at whatever price they did.

On that note: anyone who invested at Snap’s peak valuation might have lost more money than betting on Bitcoin during this year’s January hype — that’s saying something — but ultimately they have no-one to blame but themselves.

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Google Pay quietly launches in UAE with the support of 4 banks

Paying through your mobile phone isn't new for UAE consumers with both Apple Pay and Samsung Pay being available in the region for over a year. However, Google Pay was never officially announced and that changes today.

While we're still waiting on the details from Google's regional offices, Google has quietly rolled out support for four banks in the UAE which are EmiratesNBD, Emirates Islamic Bank, Mashreq Bank and Standard Chartered.

Like Apple Pay, Google Pay is also based on NFC payment technology and won't work with as many credit card terminals as Samsung Pay which can also conduct transactions on older MST based machines. You will however be able to use phones from Huawei, HMD and HTC with NFC technology to pay without using a third-party application.

To set up Google Pay, download the app from the Google Play Store and then add your credit card by simply snapping a picture of it within the app, and then entering some details. Once you’re setup, you only have to wake your phone and tap it on a contactless payment terminal to start making purchases.

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