Amad Al-Msaodi mostly known for his recent success in getting 3rd place in the MIT Arab Business Competition for his still unannounced project ArabicCoach has managed to get Ras2Ras.com acquired by Ahmad Al-Ajmi for an undisclosed amount.
The website with no obvious monetization plan appears to make money through advertisement, we couldn’t find in the site. Leaving us with the only conclusion that the content itself isn’t purely user generated, allowing for what social studies refer to as opinion polarization to encourage the websites users to purchase certain products, funded by producers or retailers.
The website as described by it’s founder is a ‘Social Rating Platform’, was founded by Al-Msaodi back in 2008 by an outfit called YemenServer manages a number of other websites amongst which is Al-Msaodi’s recently launched Social Real-Estate mash-up AqarMap also covered by TheNextWeb Middle East at the time of it’s launch.
The Ras2Ras.com platform in itself appears to be doing modestly well from a traffic point of view which leads us to speculation of a relatively low amount for the acquisition itself. Waiting further confirmation on that.
Hopefully this acquisition will speed up development for the website especially from a UI aspect as it’s not the easiest site on the eyes, in addition to adding more Social Networking support than just an addthis sharing button.
The acquisition comes at a good time for Al-Msaodi that with his anticipated launch of ArabicCoach and relatively recent launch of AqarMap.com putting the spotlight on the young entrepreneur and possibly increasing the chances of further opportunities for funding in different endeavors.