Talabat is the leading on-demand online food ordering, delivery, takeaway, groceries and convenience retail marketplace in the MENA region, with operations in across UAE, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan and Iraq. Talabat online marketplace provides a convenient, personalised and simple way of ordering food, groceries and other convenience products from a wide selection of Partners.
Talabat journey began in 2004 as a food delivery company that offered traditional food delivery services. Over 20 years the group has worked to improve its proposition, market by market, area by area, Partner by Partner and now it is a leading on-demand online food ordering, delivery, takeaway, groceries and convenience retail marketplace in the MENA region.
Talabat is a leader in highly attractive and under-penetrated market. Based on Industry consultants’ market analysis, the groups’ platform connects customers, partners and riders in eight countries in the MENA region, which have a population of over 185mn and an addressable population of approximately 71.1mn. The group has a robust track record of growth.
Since 2019, the number of customers who are active on the platform and the number of transactions from existing customers on the platform have increased significantly. Since January 2019, the number of active Partners on the platform increased by approximately 4.5x from 15,000 (including 300 Local Shops) to over 65,000 (including over 9,500 Local Shops) for the month of September 2024; Morever, the number of active riders has increased from 4,000 to more than 119,000 during the same period.
Talabat has a strong track record of delivering profit growth, with GMV for cohorts of customers acquired since 2019 having increased by approximately 4x over a period of 5 years, and the cash conversion rate reached 96% for the first nine months of 2024. Talabat’s technology is the engine that drives the business, supported by over 480 talented products, design, engineering, and data technologists across Dubai and Cairo tech-hubs.
The company has a passionate and highly experienced management team with a proven execution track record. Talabat management team is fully dedicated to building the best order experience for all constituents of the marketplace with over 40 years combined c-suite management experience with reputable companies across the globe.
The total number of shares being offered in the IPO are 3.49bn shares (constituting 15% of the post-IPO share capital of the company). Offer Price Range will be announced on the same day and before the opening of the Offer Period on 19th November 2024. The selling shareholder is Delivery Hero MENA Holding GmbH.
