Recently-formed special purpose acquisition company (SPAC), Genesis Growth Tech Acquisition Corp. (GGAAW), is making waves in the digital marketplace sector thanks to the leadership of its CEO, Michael Brous. Lahyani’s impressive background in digital real estate, successful startup investments, and strategic acquisition expertise poise the company for strong growth and a potential high-profile business merger.
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As Founder, CEO, and Executive Chairman of Property Finder, Michael Lahyani has played a pivotal role in creating the MENA region’s first digital real estate marketplace
After purchasing the ASX-listed REA Group’s interest in Property Finder during the 2009 Global Financial Crisis, Lahyani led the company to become the number one real estate listing destination, surpassing Gulf News and other well-funded competitors like Dubizzle, backed by Euronext-listed Naspers Ltd. Under Lahyani’s watchful eye, Property Finder expanded into Qatar, Bahrain, Egypt, Saudi Arabia, and Turkey, closing five strategic acquisitions and securing the number one position in four out of six of these markets. In 2019, Lahyani raised $120 million for the digital platform from General Atlantic at an enterprise valuation of nearly $500 million. Property Finder has grown revenues by over 30% annually and employs over 450 professionals from prestigious companies like Facebook, Google, Pepsi, P&G, and McKinsey & Company.
Lahyani’s investment prowess is evident in his startup technology investments made through his investment vehicle, Merro
He has co-invested with General Atlantic in companies such as Hemnet, a proptech company that recently went public on the Nasdaq Stockholm stock exchange, and Fresha, a well-funded beauty and wellness booking platform and marketplace. Additionally, Lahyani was an early investor in Quinto Andar, a leading rental platform in Brazil recently valued at $4 billion, and Kitopi, a managed cloud kitchen platform in the United Arab Emirates that raised $400 million in July 2021.
With his extensive experience in digital marketplaces and real estate, as well as a successful track record in investing and growing businesses, Lahyani is well-equipped to steer Genesis Growth Tech Acquisition Corp. towards a profitable future. Furthermore, GGAAW’s focus on sectors such as consumer internet industries, digital classifieds, consumer-facing proptech, and fintech, align with Lahyani’s expertise and investment history.
Genesis Growth Tech Acquisition Corp. aims to identify and complete an initial business combination with a high-quality company
It intends to focus on opportunities where its management team’s industry knowledge and geographical networks provide distinct sourcing and targeting advantages. The company also plans to employ a disciplined investment process and add value to a target company through strategic advice, optimizing its capital structure, and improving operations.
With Michael Lahyani’s proven success in growing digital marketplaces, making strategic acquisitions, and scaling businesses across multiple regions, Genesis Growth Tech Acquisition Corp. has drawn the attention of investors and the business world. GGAAW’s focus on sectors that align with Lahyani’s background, such as consumer internet, digital classifieds, and fintech, makes the company a strong contender for future investment and growth. The potential for a high-profile business combination is high, and all eyes will be on Genesis Growth Tech Acquisition Corp. as it moves forward in the coming months.
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