Citruss TV announces investment for expansion
Dubai-based Citruss TV has declared an investment by Valoris Capital to support its expansion plans. The rapidly growing company intends to use the new capital to continue strengthening its operations, progressively move to LIVE TV, expand its e-commerce and m-commerce presence and increase penetration in its 17 markets of operation in MENA, it said in a statement. Launched in Dubai in 2005 by entrepreneurs Nicolas Bruylants and Michael Trueschler, the company has to date reached in excess of 300,000 customers across the region. Through its satellite channel broadcasting on Nilesat, the company is able to connect with the vast majority of the 350 million consumers in the MENA region. “This new funding will enable us to build on our current momentum in fast-growing markets in the region. As the leading multi-channel home shopping company in MENA, we are able to attract the highest level of talent to create new and innovative experiences for our customers,” said Bruylants.