In a major move to expand its regional footprint, Jahez International, Saudi Arabia’s leading food delivery and logistics platform, has signed a $245 million agreement to acquire a 76.56% stake in Qatar-based Snoonu, marking the first Qatari startup to surpass a QAR 1 billion ($320M) valuation.
Deal Highlights:
- Jahez will purchase 8.14 million existing shares (75%) for $225M, and subscribe to 723,960 new shares (1.56%) for an additional $20M, financed through internal funds, bank loans, and treasury shares.
- The acquisition values Snoonu at approximately $320M.
- The transaction is expected to close in H2 2025, pending regulatory and shareholder approvals.
Post-transaction, founder Hamad Al-Hajri will retain 23.44% ownership and continue as CEO. A new four-member board will include three Jahez appointees (including chairman) and one from Al-Hajri.
Strategic Implications:
Founded in 2019, Snoonu offers food, grocery, retail, and third-party logistics services to SMEs across Qatar. This acquisition strengthens Jahez’s presence across the GCC’s on-demand economy, aligning with its regional growth strategy and unlocking platform synergies in logistics and delivery infrastructure.
The $20 million capital injection will fuel Snoonu’s tech innovation and support market expansion beyond Qatar.
This acquisition reinforces growing consolidation in the MENA tech scene and highlights the rising valuation potential of homegrown Gulf startups.
