Riyadh - Sharikat Mubasher: The leading Saudi investment group Naif Alrajhi Investment acquired a strategic stake in Mawdoo3, a leader in Arabic artificial intelligence (AI) and data solutions that operates more than 200 websites including the top-visited Arabic site Mawdoo3.com and WebTeb.com, the region's largest digital medical platform.
This acquisition aligns with Naif Alrajhi’s strategy to diversify its portfolio and expand into high-potential sectors, a recent statement revealed.
Attracting tens of millions of visitors monthly, Mawdoo3’s platforms house over one million expert-written articles.
Commenting on the acquisition, Naif Saleh Al Rajhi, Chairman and CEO of Naif Alrajhi Investment, said: "This acquisition aligns with Saudi Vision 2030 and marks our entry into the tech and AI sectors. We are excited to partner with Mawdoo3, a regional leader in digital content and AI."
On his part, Rami Qawasmi, Co-Founder and CEO of Mawdoo3, said that the acquisition enables the company to expand its offerings, drive regional digital transformation, and grow from Saudi Arabia to the global market.
“This acquisition will enhance Mawdoo3’s presence in Saudi Arabia, utilizing the Kingdom's ecosystem to develop advanced AI tools, attract top talent, and foster Arabic-language technology innovation,” Qawasmi added.
Mawdoo3 was one of the first regional companies to invest in AI, launching an NLP toolkit in 2018 and commercializing products such as Qalam.ai and Salma.ai. It targets enhancing Large Language Models (LLMs) with high-quality data verified by expert freelancers through the Waraqa.com platform.
