Saudi-listed Jahez has acquired a 76% stake in Snoonu, Qatar’s fast-growing super-app, in a deal valuing the company at $320 million
Saudi-listed on-demand delivery platform Jahez has signed a definitive SPSA to acquire a controlling stake in Qatar’s Snoonu, marking its first entry into the Qatari market. Completion is expected in the second half of 2025, subject to regulatory and shareholder approvals.
The $245 million deal comprises $225 million for an existing 75% share of Snoonu and a further $20 million capital injection in exchange for a newly issued 1.56% stake, bringing Jahez’s total stake to 76%.
Snoonu’s performance and leadership
The transaction places a valuation on Snoonu of approximately $320 million, making it the first Qatari startup to surpass the one billion-riyal mark.
Snoonu, founded in 2019, has rapidly evolved into a multi-vertical super-app offering food, grocery, e-commerce, and third-party logistics services.
Under the terms of the agreement, founder and CEO Hamad Al Hajri will retain 24% of shares and continue to lead the company.
A new four-member board will be formed, with three representatives from Jahez and one from Al Hajri.
Strategic expansion into Qatar
For Jahez, the acquisition represents a significant step in its GCC expansion strategy.
The company is active in Saudi Arabia, Bahrain, and Kuwait, and the addition of Snoonu strengthens its position across the region.
Jahez plans to integrate Snoonu’s platform with its existing infrastructure to unlock operational and technological synergies.
The deal will be financed through a combination of existing cash reserves, bank facilities, and treasury shares.
Jahez and Snoonu plan to maintain Snoonu’s Qatari identity while accelerating innovation and expansion. The acquisition not only enhances Jahez’s footprint but also positions Snoonu to scale further as a regional digital powerhouse.
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