Get All Access for $5/mo

The Investor's View: Is The App Boom Over? Walid Tahabsem, Co-Founder and Board Member of Oasis500 and Board Member of Endeavor Jordan, shares his opinions on the investment opportunities in startups that are app-focused.

By Walid Tahabsem

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Shutterstock

Lately, in the entrepreneurial and tech-centric media, there's been some discussion on whether the app boom days are over, especially in light of the ever-climbing CAC costs reported by tech startups. We asked investors based in the Middle East, from angels to VCs, to talk back and give us their views on whether startups in the app space still have a chance to make it (and get looked at seriously for capital).

THE Q What is your opinion on the idea that the app boom has already gone through a life and death cycle, and that it's now an overly optimistic (and unlikely) area for entrepreneurs to succeed in?

"From a technical point of view, I don't think apps are businesses, apps are means of delivery. Therefore, as long as apps make sense as a tool of delivery and access, they will remain available and remain strong! Entrepreneurs should stop thinking about apps, and focus on the business they want to build and then decide on the best way to reach their clients. Technology changes very fast and no one will be able to predict how we will be accessing and interacting with data, information, and services in the coming decade."

Related: The Investor's View: Is The App Boom Over?

Walid Tahabsem

Founder & CEO, ITG and co-founder & Board Member, Oasis500

Walid Tahabsem is a Jordanian tech entrepreneur who founded Integrated Technology Group (ITG) back in 1989. Today, as ITG’s President and CEO, he leads one of the most successful IT companies offering quality end-to-end products and services for the education and public sectors in more than 20 countries worldwide.

Walid is also the co-founder and a board member of Oasis500, the region’s premier education and counselor-driven seed investment program. He also serves on the Board of Endeavor, Prince Hamzah Bin Al Hussein School Board of Trustees, and Jordan’s ICT Advisory Council. Walid has been an active member of a number of key national boards, councils and associations including; Jordan’s National Agenda, Jordan’s Board of Education, Jordan University for Science and Technology (JUST) Advisory Council, German Jordan University (GJU) Advisory Council, Information Technology Association of Jordan (INT@J) Board, and Jordan’s Youth Development Program INJAZ.

He is an active member of Saudi Al-Aghar Thinktank, a non-profit, independent Think-Tank aiming to transform Saudi Arabia into a Knowledge Society. He was recently awarded with the Order of Independence, by His Majesty King Abdullah II Bin Al Hussein, which makes him the first Jordanian honored in this category.

 

 

Starting a Business

He Started an 'Accidental' Business at 25 With Just $2,000 — Then Gave His Product to the Pope: 'Anyone Can Be an Entrepreneur'

Michael Aram, founder of the namesake luxury home and jewelry brand, learned the art of metalworking in India — and used it to launch a global brand.

Growth Strategies

Strong Foundations: Ahmed Alkhoshaibi, Group CEO, Arada

Building on seven years of Arada Group's exponential growth, its Group CEO Ahmed Alkhoshaibi details the UAE master developer's global agenda.

Business News

Can ChatGPT Help Start a Business? I Tried the Latest Version, GPT-4o, to Find Out.

I tried ChatGPT for business advice, from the perspective of a first-time founder looking for ideas and guidance.

Side Hustle

This Former Disney Princess Lived 'Paycheck to Paycheck' Before Starting a Side Hustle at Home — Now She Makes $250,000 a Year

Victoria Carroll's income was "sporadic" until a friend encouraged her to take her talents to Fiverr in 2018.

Business News

Here's What Sora, OpenAI's Text-to-Video Creator, Can Really Do

Toys "R" Us used Sora, an AI filmmaker, to create its latest ad.

Growing a Business

10 Years, 10 Lessons — Key Insights From a Decade of Entrepreneurship

In honor of my business's 10-year anniversary, here are 10 lessons I've learned about entrepreneurship and leadership along the way.