Yahoo Maktoob
| Company type | Subsidiary |
|---|---|
| Industry | Internet services |
| Founded | 1999 in Amman, Jordan |
| Founder | Samih Toukan, Hussam Khoury |
| Defunct | 31 January 2023 |
| Fate | Ceased operations |
| Headquarters | Amman , Jordan |
Area served | MENA region |
| Products | Email platform, news, sports, blogging, social networking, research, matrimonial services, travel services, online games |
| Parent | Yahoo! |
Yahoo! Maktoob () was an internet services provider established in Amman (Jordan), recognized as the pioneering Arabic-English email platform. In 2009, Yahoo! purchased Maktoob.com, marking its formal entry into the MENA market. The platform ceased operations on 31 January 2023.
Origins
Founded in 1999 by Samih Toukan and Hussam Khoury, Maktoob introduced a webmail service supporting the Arabic language—an uncommon feature among free email providers at that time. To overcome the lack of Arabic keyboard layouts and script compatibility in browsers, they developed a virtual keyboard utilizing Java applets.
Acquisition by Abraaj Capital
In June 2005, Dubai-based private equity firm Abraaj Capital invested $5 million to acquire a 40% ownership stake in Maktoob. This move was aimed at capitalizing on Maktoob's extensive user base exceeding four million members, its leading online payment system cashU, and established brand recognition. Additionally, the company had launched Souq.com, the first Arab online auction platform, leveraging Maktoob’s broad community reach.
Maktoob further expanded in April 2006 by purchasing an 80% share in Sport4ever.com, a well-known Arab sports website.
By December 2007, Abraaj Capital divested its shares to Tiger Global Management, achieving a 75% internal rate of return on its investment.
Yahoo! acquisition
Yahoo! acquired Maktoob in 2009 for $164 million. Subsequently, in January 2011, users’ email addresses transitioned from the @maktoob.com domain to @yahoo.com.
In October 2014, Yahoo! announced workforce reductions affecting half of its Dubai employees and shuttered its Dubai office—the last remaining facility in the MENA region—in December 2015 to optimize global operations.
This acquisition stands as one of the most significant deals in the region and provided financial resources that contributed to Souq.com’s growth to a valuation of $1 billion.
Services
Yahoo! Maktoob delivered a variety of digital offerings such as news coverage (Yahoo! Maktoob News), sports updates (Yahoo! Maktoob Sport), blogging platforms (Yahoo! Maktoob Blog), social networking (Yahoo! Maktoob As7ab Maktoob), a bilingual research community (Yahoo! Maktoob Research), matrimonial services (Yahoo! Maktoob Bentelhalal), travel-related services (Yahoo! Maktoob Travel), and casual online games (Yahoo! Maktoob Games).