Riyadh-based food delivery service Jahez agrees to acquire a 77% stake in Qatari e-commerce platform Snoonu for $245M in cash and stock, set to close in H2 2025
Context & Ripple Effects
Jahez has previously pursued consolidation at home through its planned acquisition of The Chefz; this earlier Saudi delivery-rival deal makes the Snoonu transaction a continuation of an acquisition-led strategy rather than an isolated investment.
The deal also arrives amid broader regional platform building, including SILQ’s creation through the merger of ShopUp and Sary. Jahez is now using a majority stake to extend that consolidation logic from Saudi delivery into a Qatari e-commerce platform.
First-order effects
- Jahez would gain control of 77% of Snoonu, giving it a direct position in Qatar’s e-commerce market once the cash-and-stock transaction closes.
- Snoonu’s ownership and strategic decision-making would shift to a Jahez-controlled structure, while Jahez commits $245M in cash and stock to the deal.
Second-order effects
- The transaction puts pressure on regional delivery and commerce platforms to weigh whether local scale is sufficient or whether partnerships and M&A offer a faster response.
- Jahez’s move from domestic consolidation to a cross-border majority stake may make regional reach a more important competitive consideration for platforms serving adjacent Gulf markets.
Third-order effects
- If similar deals continue, Gulf consumer-internet markets could become more concentrated around regional operators that combine local brands with cross-border ownership and capital.
- The pattern points toward platform consolidation across delivery and commerce, though the extent of operating integration will depend on how Jahez runs Snoonu after closing.
The trend: This is one data point in the regional consolidation of Gulf delivery and e-commerce platforms through cross-border acquisitions and mergers.