Saudi company Ninja, a specialist in quick commerce, has officially entered the race to acquire some assets from the German company Delivery Hero in the Middle East. This move could potentially complicate plans for Uber, which is also looking to boost its regional presence through major acquisition deals. According to a report by the Financial Times, citing informed sources, Ninja is considering making an offer to acquire the Saudi platform HungerStation, one of Delivery Hero's most prominent subsidiaries in the region. There's also a possibility of Ninja collaborating with another party to acquire additional assets, including stakes related to the Talabat platform. The sources indicated that Ninja is initially focusing on the HungerStation deal because it aligns perfectly with their expansion strategy. Plus, completing this particular deal might face fewer regulatory hurdles compared to other potential acquisitions in the region's markets. They added that Ninja's board of directors might consider submitting a formal offer in the coming days, even though negotiations are still in their early stages and a final agreement hasn't been reached yet. These developments are happening at a time when the delivery and e-commerce sector is seeing increased competition for Delivery Hero's assets in the Middle East. Global companies, including Uber and DoorDash, are actively looking to expand their presence in regional markets. Additionally, major investors like Prosus are keen on increasing their investments in these valuable assets. Market estimates suggest that the Talabat platform alone is valued at over 9 billion euros. The company's market value was estimated at around 8 billion dollars during an offering of a stake in the Dubai Financial Market at the end of 2024, which really highlights how attractive Delivery Hero's assets are to strategic investors. Ninja stands out from traditional food delivery platforms because of its unique business model. It primarily relies on a network of fully-owned 'dark stores' that specialize in delivering groceries and consumer goods at lightning speed. This approach has fueled its rapid growth in the Saudi market. The company was founded in 2022 and, in a very short time, managed to join the exclusive list of 'unicorn' startups, reaching a valuation of approximately 1.5 billion dollars in its latest funding round. What's more, its executive team includes founders and leaders who previously worked at HungerStation and Delivery Hero, giving them direct, invaluable experience in the delivery sector and the region's markets.
Related editorial
MIS Teams Up with Saudi Fransi Capital to Power Up Saudi Arabia's Data Centers
MIS (Al Moammar Information Systems) and Saudi Fransi Capital are joining forces to explore building three major new data centers in Riyadh, Dammam, and Jeddah. MIS will handle the development, design, and management of these facilities, which aim to add a significant 48 megawatts of capacity to Saudi Arabia's digital infrastructure, supporting the nation's digital transformation goals.
Corner, the Gen Z Social Map, Secures $7.5M to Power AI-Driven Discovery
Corner, a social mapping app popular with Gen Z, has successfully raised its total funding to $7.5 million. The company is leveraging this investment to enhance its platform, particularly by integrating artificial intelligence into its search engine. This allows Corner to provide personalized recommendations based on user reviews and in-app content, moving beyond traditional map services to offer a more tailored discovery experience.
NTI and Huawei Partner to Train Egyptian Talent in Key Digital Technologies
The National Telecommunication Institute (NTI) and Huawei are teaming up to offer exciting new training programs! These courses cover essential digital skills like AI, Big Data, network infrastructure, cloud computing, cybersecurity, and 5G, helping young Egyptians get ready for the jobs of tomorrow.
iSchool Boosts Endeavor Saudi Arabia's AI Readiness with Specialized Training
iSchool recently partnered with Endeavor Saudi Arabia to deliver a three-day practical training program. This initiative focused on equipping Endeavor's team with essential AI skills, covering specialized topics like prompt engineering, integrating AI into digital product development, and leveraging AI for marketing and media strategies.