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Internet penetration in the Middle East remains very limited.

While internet usage and penetration is growing significantly in terms of percentage, the real number of users is still very low. According to Internet World Stats, there are only 30 million internet users in the Middle East. According to Arab Advisors Group, the Jordan-based research firm, only seven or eight per cent of people in the UAE, Qatar and Bahrain have fixed-line broadband; in most of the Middle East it is fewer than two per cent.

Increasing internet usage has brought more competitors into the region. As usage continues to grow the number of competitors will grow and the industry may experience some consolidation. However, Bayt CEO Rabea Ataya recently confirmed that company is being successful despite these challenges. Although Ataya would not disclose the company’s revenue, he said it was “double digit, millions of dollars, growing 100 per cent per annum”.

Innovation

Bayt.com is hosting the Middle East’s first virtual career fair (virtual job fair)using technology provided by iCongoLive. This is intended to be the first in a series of such events.

Partnerships

Bayt.com is part of The Network. The Network, founded in 2002 by StepStone and Totaljobs, is a strategic alliance amongst market-leading job boards across 34 countries throughout Europe, and more than 60 countries worldwide. One of the recent new joiners is Yahoo Hotjobs.

Awards

2006 Red Herring 100 Europe. The award honors cutting-edge private technology companies from across the continent.

Rabea Ataya receives the Middle Eastern E-Entrepreneur Award given by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, for his outstanding contributions to the region’s “knowledge economy.”

UAE Web Awards: Sheik Bin Rashid Al Maktoum Award for Website of the Year, Golden Award in the Service Category, Special Award for the Best Strategy Website

Leading E-Commerce Website in the Pan Arab Region at the 2007 Pan Arab Web Awards

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