Saudi Arabia

  • What are leveraged loans and why does Uber want one?

    What are leveraged loans and why does Uber want one?

    Uber, fresh off $3.5 billion from the Saudi Arabia Public Investment Fund, is in talks to close another $1-2 billion in the form of leveraged loans. Over the last 24 hours, the term “leveraged loans” has been thrown around a lot, but few in the startup world have seen this term before. Read More

  • Uber takes its most significant investment yet at $3.5 billion from Saudi Arabia

    Uber takes its most significant investment yet at $3.5 billion from Saudi Arabia

    Uber announced today it took $3.5 billion from Public Investment Fund (PIF), Saudi Arabia’s main investment fund as part of its latest round. The new investment is the largest to date for the ridesharing giant and brings the total balance of both cash and debt to more than $11 billion but doesn’t increase the company’s current $62.5 billion value. Uber rules the U.S. market… Read More

  • Saudi Arabian Startup NOMADD Looks To Clean Up Solar Energy Production Crunch Network

    Saudi Arabian Startup NOMADD Looks To Clean Up Solar Energy Production

    In Saudi Arabia, a country known more for its vast oil reserves than its commitment to renewable energy, a small startup called NOMADD Desert Solar Solutions has developed a new way to clean up the process of solar energy production — literally. Even the Saudi kingdom realizes that despite the attractively low prices of fossil fuels, solar energy is gaining momentum. Solar panels are… Read More

  • How Gulf Countries Can Ignite Their Startup Revolution Crunch Network

    How Gulf Countries Can Ignite Their Startup Revolution

    There is hardly a day that passes without a new major initiative, announcement or bold proclamation by the Gulf economies of United Arab Emirates, Kuwait, Oman, Qatar, Bahrain and Saudi Arabia to promote tech startups in the region. Be it incubators, investment funds or free zones, you name it and they have it. Read More

  • SolFocus Selling Solar To Saudi Arabia

    Americans exporting renewable energy resources to the Middle East? It’s not opposite day. A Mountainview, Calif. company, SolFocus, announced a deal with a major construction company in Saudi Arabia— Advanced Vision Electro Mechanical Company (a.k.a. Vision) — that is building a new, commercial solar power plant in Bahra. The plant will be the first in Saudi Arabia to use… Read More

  • Saudi Arabians Will Soon Need A License To Blog

    According to The Media Note, Saudi Information and Culture Ministry spokesman Abdul Rahman Al-Hazza announced last night Saudi time that all Saudi Arabian web publishers and online media, including blogs and forums, will need to be officially registered with the government. Read More

  • King Abdullah University of Science and Technology


    I’m in Jeddah, Saudi Arabia for the inauguration ceremony of KAUST, the King Abdullah University of Science and Technology. This is a 30-square kilometer state-of-the-art research institution with faculty and students from all over the world. For the next couple of days I’ll be getting some behind-the-scenes access to technology in use here, both for education and research, as well… Read More