Jahez’s Growth Key Indicators
Jahez, Saudi Arabia’s online fooddelivery unicorn, successfully listed on Saudi’s secondary market, Nomu, raising a US $2.4 billion initial public offering (IPO) in 2022. Jahez achieved this stellar exit within five years of establishing itself.
A year prior to IPOing, the food-delivery startup grew from serving 22 cities to serving 47 cities, capturing around 30% of the country’s meal delivery market share.
By the end of 2021, the company served 1.9 million customers. 2 years later, Jahez’s consumer base has almost doubled to serve 3.5 million active customers.
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The Future of Food Delivery in Saudi Arabia
The KSA food delivery market, worth US $10 billion in 2023, is expected to hit $14.9 billion by 2028, with food-delivery startups playing a central role in driving that growth, capitalizing on shifting consumer needs. These startups snagged 45% of the $600 million raised by KSA's Foodtech sector, marking a transformative shift in dining experiences and highlighting their pivotal role in Saudi Arabia's evolving food landscape.
