The Investor's View: Is The App Boom Over? Samih Toukan, Chairman, Jabbar Internet Group gives his insight on whether the app marketplace ecosystem is still worth the investment.

By Samih Toukan Jun 1, 2016

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Lately, in the entrepreneurial and tech-centric media, there's been some discussion on whether the app boom days are over, especially in light of the ever-climbing CAC costs reported by tech startups. We asked investors based in the Middle East, from angels to VCs, to talk back and give us their views on whether startups in the app space still have a chance to make it (and get looked at seriously for capital).

THE Q What is your opinion on the idea that the app boom has already gone through a life and death cycle, and that it's now an overly optimistic (and unlikely) area for entrepreneurs to succeed in?

"I don't agree with this notion. I think mobile apps continue to grow and the success is dependent on the entrepreneur and the business idea and the execution of that idea. Today traffic and transactions have shifted towards mobile and continue to do so and entrepreneurs need to innovate and differentiate themselves in order for people to use their apps."

Samih Toukan

Chairman, Jabbar Internet Group

In the year 2000, Samih founded and became the CEO of Maktoob.com, the world’s first Arabic email and largest Arab online community with over 16 million users. In 2009, Maktoob was acquired by Yahoo! in the largest technology acquisition deal in the history of the region.

Following the acquisition, Samih became the Chairman of Jabbar Internet Group (Jabbar.com) a group that founded several leading Internet companies including souq.com, the Arab world's largest ecommerce site. Jabbar today is one of the leading investors in Internet and technology companies in the region.

Samih holds a Bachelor’s degree in Electrical Engineering from the University of London and a Masters in Management and International Business from HEC University in France. He has several years of experience with Andersen Consulting in technology consulting, systems development and Internet services. He co-founded Business Optimization Consultants in 1994 and Maktoob in 2000.

Between 2003 and 2005 , Samih was appointed by the Jordanian government as a member of the board of the Social Security Investment Fund (a fund of several billion Dollars). Today Samih is an active investor, investing in many startups in the region and around the world. He also acts as a mentor to many entrepreneurs. Samih is also a founding investor in Oasis500, Jordan’s leading startup incubator.

Furthermore Samih is the Chairman of the board of UnderMyOliveTree, a non profit organization focusing on education support for the unprivileged, and an investor and a member of the board of Ruwwad Micro Venture Fund, which provides grants for entrepreneurs in marginalized communities in Jordan.

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