(MENAFN- Gulf Times) In a groundbreaking move, Qatar's homegrown tech champion, Snoonu, has joined forces with Jahez Group, a leading integrated ecosystem of on-demand services in Saudi Arabia, setting the stage for a transformative journey in the Gulf's digital landscape.
The deal sees Snoonu, Qatar's fastest-growing technology company, valuing the company at over QAR 1 billion, making Snoonu the first Qatari tech startup to cross this milestone. This supports its path to becoming Qatar's first unicorn and establishing one of the most dynamic technology powerhouses in the GCC. This transaction represents a strong vote of confidence in Snoonu's growth trajectory and will support the company in regional expansion and enhance innovation across its platforms.
“This transformative partnership with Jahez marks a defining moment in Snoonu's journey,” said Hamad Al Hajri, Founder and CEO of Snoonu.“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.”
Key Highlights:

• Empowering Local Innovation: The initiative accelerates Snoonu's mission to deliver cutting-edge solutions, fostering local talent and attracting bright minds from around the world to contribute to Qatar's growing tech ecosystem.
• Boosting Qatar's Digital Economy: The investment signifies a robust vote of confidence in Qatar's digital infrastructure and its potential to lead in the tech arena.
• Regional Synergy: Combining Snoonu's dynamic approach with Jahez's extensive experience creates a powerhouse poised to redefine the digital experience across the GCC.

This strategic transaction is more than a business deal; it's a commitment to shaping a future where technology bridges communities, enhances lives, and positions Qatar at the forefront of digital transformation.

The Deal Details
Jahez has acquired 76.56% of Snoonu for USD 245 million , including a USD 20 million capital injection to fuel our growth. This values Snoonu at USD 320 million (QAR 1.165 billion) , making us Qatar's first tech startup to surpass the QAR 1 billion milestone! I'll retain 23.44% of the company , and Jahez's stake comes through a mix of cash, their shares, and that fresh capital. This is the biggest deal in Qatar's tech history , and it's just the start.

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