The most loved platform- Jahez to uncover IPO listing - MENA startups, innovation, and tech news

Blog

The most loved platform- Jahez to uncover IPO listing
Funding, Startups

The most loved platform- Jahez to uncover IPO listing

An online food ordering and delivery solutions platform seems to be in a lot of demand these days. You can never have enough of it.

The online food delivery market in Saudi Arabia was worth about $500 million in 2020 and is expected to grow a lot more at a compound annual growth of over 10% to over $900million by 2026.

Jahez- a Riyadh-based food delivery startup is planning to unveil IPO listing. If Jahez goes public, it will be the first Saudi startup to ever become a publicly listed company and will do so in just five years, far more rapid than the 10–15 years typical of most startups.

Jahez was started in the year 2016 and has been on the top ever since. The platform has delivered more than 45 million orders, 20 million last year alone. It has linked around 2 million customers with 13,000 restaurants and 45,000 delivery partners across 47 Saudi cities. It has grown rapidly ever since.

Ghassab Al Mandeel, the CEO of Jahez has also shared his interest in expansion. The company will be launching cloud kitchens and quick commerce.

So when’s the platform going public you ask?

Jahez has stated that it plans to go public on the Saudi Stock Exchange- the Tawadul in 2021.

If the company decides to go ahead and make it a publicly listed company, it would be a step forward for more success and development.

Related posts

Leave a Reply

Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.