Jahez's Journey and Key Milestones in Reaching 100 Million Orders
Jahez's Journey and Key Milestones in Reaching 100 Million Orders
Published date : 27 February 2023

Jahez's Journey and Key Milestones in Reaching 100 Million Orders

Saudi Arabia’s online food-delivery unicorn, Jahez, has successfully listed on Saudi’s secondary market, Nomu, raising a $2.4 billion initial public offering (IPO) in January 2022. Jahez achieved this stellar exit within 5 years of establishing itself. At the end of Q2 2022, revenue had grown by 1.6x and Jahez had witnessed a 46% growth in the number of orders being placed, from H1 2021 figures. The company also posted an adjusted EBITDA profit of SAR 83 million (equivalent to US$22.1 million) and is poised to finish the 2022 financial year with over $40 million in profits to continue funding its market dominance, in a market that is conservatively forecasted to be valued at US$2.8 billion by 2025. When we spoke to various stakeholders aware of Jahez’s future growth plans, we learned that Jahez has no plans of slowing down. As of July 2022, Jahez had hit a precious milestone of fulfilling over 100 million cumulative orders since inception.

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