Jahez Acquires Snoonu for $245M, Valuing It at QAR 1 Billion

Doha, Qatar - Saudi-listed Jahez Group has signed a definitive agreement to acquire a 76.56 percent stake in Qatar’s homegrown tech firm Snoonu for USD 245 million, inclusive of a USD 20 million capital injection earmarked for growth initiatives. The transaction places Snoonu’s post-money valuation at USD 320 million (approximately QAR 1.165 billion), making it the first Qatari startup to surpass the QAR 1 billion mark.

Significance for Qatar’s Tech Ecosystem

This landmark infusion ranks among the largest private investments in Qatar’s history and is the single biggest in the nation’s technology sector. It underscores Doha’s emergence as a hub for scalable, home-grown digital ventures and signals growing regional investor confidence in Qatari tech entrepreneurs. The transaction is expected to catalyze further capital flows into local startups and highlight Qatar’s capacity to nurture globally competitive technology companies.

Snoonu’s Growth Trajectory

Founded as a student-led initiative within Qatar Foundation’s innovation ecosystem and later accelerated through HEC Paris in Qatar, Snoonu has evolved into one of the country’s fastest-growing on-demand delivery and e-commerce platforms. Leveraging local talent and infrastructure, the company has expanded its offerings beyond food delivery to encompass grocery, pharmacy, and courier services, serving both individual consumers and corporate clients across Doha and beyond.

Economic Impact and Job Creation

By injecting fresh capital and tapping into Jahez’s regional network, Snoonu plans to scale operations across the Gulf Cooperation Council, create hundreds of new jobs in technology, logistics, and customer service, and attract international talent to Qatar. The deal aligns with national diversification goals, supporting the transition toward a knowledge-based economy and broadening employment opportunities in high-growth sectors.

Strategic Partnership with Jahez Group

For Jahez, this acquisition represents a strategic entry into the Qatari market and an opportunity to integrate its advanced on-demand technology platform with Snoonu’s established local brand. The combined entity aims to leverage synergies in logistics, technology sharing, and merchant partnerships to enhance service offerings and accelerate regional expansion.

Looking Ahead

With this deal formally closed, Snoonu’s leadership has signaled plans to invest heavily in product innovation, deepen merchant and rider partnerships, and enhance the platform’s technological backbone. Supported by Jahez’s capital and expertise, Snoonu is well-positioned to pursue its ambition of becoming the region’s leading super-app, while continuing to contribute to Qatar’s vision for sustainable economic growth and digital leadership.