Jahez International Company for Information System Technology has signed a Share Purchase and Subscription Agreement (SPSA) with Snoonu Corporation Holding, under which Jahez will acquire a 76.56 percent stake in Snoonu, Qatar’s fastest-growing technology and on-demand delivery platform.
Upon completion of the transaction, expected in the second half of 2025, Jahez will hold 76.56 percent of Snoonu’s share capital, while Eng. Hamad Mubarak Al Hajri, Snoonu’s founder and CEO, will retain the remaining 23.44 percent.
According to the statement, this landmark deal has placed a $320 million (QAR 1.165 billion) valuation on Snoonu, making it Qatar’s first-ever start-up to surpass the $274 million (QAR 1 billion) valuation milestone. The deal remains subject to regulatory approvals and customary closing conditions.
Post-acquisition, Snoonu will continue to operate under its own brand, led by Al Hajri and supported by its current executive management team. A four-member board will be established, comprising three Jahez-appointed directors (including the Chairperson) and one seat for a founder-appointed director.
This deal marks a major step for Jahez and Snoonu as they unify efforts and resources to achieve their vision of building a leading, diversified ecosystem and technology platforms built by and for the region.
Hamad Mubarak Al Hajri CEO – Snoonu
“This transformative partnership with Jahez marks a defining moment in Snoonu’s journey. Together, we are creating a true regional technology champion built on shared values and a common vision for innovation, excellence, and sustainable growth. By joining forces, we are combining complementary strengths and deep market knowledge to set new benchmarks in the GCC’s digital economy. This partnership also reaffirms our unwavering commitment to Qatar, a thriving and dynamic market with immense potential, and supports Snoonu’s continued growth journey. Together, we will continue driving technological advancement, creating meaningful value to our users and merchants, and delivering exceptional experiences at scale.”
HRH Prince Mishal Bin Sultan Bin Abdulaziz Al Saud, Chairman of the Board of Directors of Jahez, said that, “We formed Jahez as a trailblazer in the Saudi startup space and are proud to now partner with one of Qatar’s standout success stories. This partnership represents a meaningful step toward realizing our collective long-term vision of shaping the future of tech and commerce in the region. By bringing together two homegrown tech leaders, we are reinforcing our commitment to innovation and regional collaboration, while supporting the next phase of digital growth for the region.”
“This partnership is a win-win for all stakeholders as we expand our presence in the region. Snoonu’s impressive growth journey will be further fueled by Jahez’s infrastructure and scale, while we gain access to Snoonu’s cutting-edge product engine, talent, and high-performance platform across its portfolio. Our companies share the same entrepreneurial DNA and, most importantly, have a proven ability to grow profitably in a competitive sector. Together, we will unlock new opportunities for customers and merchants, cementing our position as the region’s trusted on-demand platform and continuing to deliver shareholder value,” noted Eng. Ghassab Al-Mandeel, Chief Executive Officer of Jahez.
