TechCrunch

MARCH 8, 2021

According to Momtaz, the startup’s CEO, the food aggregation industry usually takes about 25%-30% average commission from F&B players for business to start to make sense. Because of its original business model, Koinz had to iterate several times. Since launching in Egypt, Koinz has expanded to Saudi Arabia and the UAE.

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TechCrunch

MAY 30, 2022

It’s been a very busy 18 months for SWVL leading up to this news. SWVL said it plans to attain profitability next year. SWVL is present in 13 markets globally: the UAE, Egypt, Kenya, Germany, Spain, Italy, Switzerland, Turkey, Japan, Argentina, Saudi Arabia, Jordan and Pakistan.

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TechCrunch

FEBRUARY 6, 2023

This growth is largely attributable to the uptick of online merchants using CRM tools to boost sales, increase profits and beat mounting competition from other providers. Khairy told TechCrunch that since the startup’s launch, growth has been exponential and they have so far served over 7,000 businesses reaching 20 million customers.

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TechCrunch

AUGUST 23, 2022

Canada, Saudi Arabia and Turkey, plans to expand to Latin America this financial year and is also exploring a debut in Japan, said Sreevathsa Prabhakar, founder and chief executive officer of the startup, in an interview. India, the world’s second largest smartphone market, accounts for 60% of Servify’s business, he said.

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TechCrunch

JUNE 6, 2022

Since Fenix’s founding as a shared e-scooter operator in 2020, the company has regularly added business lines, from 10-minute grocery delivery to micromobility subscriptions to, now, ride-hail. Otherwise, the company is mainly relying on profits from its core micromobility business to fund these new business lines.

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TechCrunch

JUNE 28, 2022

Vezeeta’s business has evolved from the “Uber for Ambulance” model it launched in 2012 to what it is now: a subscription-based doctor booking and consultation platform. In May, publicly traded mobility startup SWVL announced plans to lay off 32% of its workforce. Layoffs hit crypto and real estate tech particularly hard this week.

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TechCrunch

APRIL 27, 2023

The microfinancing platform connects investors with small businesses using mudarabah, a shariah-compliant profit-sharing agreement. Profit sharing instead of debt The seed of Blossom Finance was planted when Martin was running a project in the U.S. All losses and profits are shared pro rata, Martin explained.

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The Verge

DECEMBER 23, 2020

After Lucid Motors languished in search of the funding required to build its luxury sedan and a factory in Arizona, it ultimately turned to Saudi Arabia — which is now the majority owner. That might be the best sign yet that there’s finally real runway for the myriad startups trying to build a business around electric vehicles.

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The Verge

MAY 25, 2021

The new one has upended the startup’s business model and largely thrown out the projections that were used to raise around $600 million during last year’s merger with a SPAC. billion to the sizable war chest it started building when Saudi Arabia pledged some $1.3 billion in exchange for majority control in 2018.

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TechCrunch

FEBRUARY 28, 2022

But as with all companies like Lucid that have been busy building in anticipation of future sales, there’s more to the story. Lucid is also building a new manufacturing facility in the Kingdom of Saudi Arabia that it expects to finish by 2025. The company estimates the Saudi plant could bring in up to $3.4

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TechNode

MARCH 5, 2025

The strategic shift comes as the company marks its 15th anniversary, aiming to diversify beyond its core food delivery and group-buying businesses. Why it matters: Meituans current business landscape is more complex than ever. Meituans overseas food delivery platform, Keeta , is rapidly expanding in Saudi Arabia.

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Fast Company Tech

MARCH 11, 2025

Neom, the insane urban development project in Saudi Arabia, appears to be sinking faster than the giant holes they keep digging in the middle of nowhere. That will be the year the World Cup starts in Saudi Arabia, right in that stadium. Just nine years away.

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TechNode

MARCH 6, 2025

Revenue from its core express delivery business reached $9.98 J&T Express achieved a net profit of $110 million in 2024, reversing its 2023 net loss of $1.16 Adjusted net profit stood at $200 million, exceeding market expectations. The companys total parcel volume surged 31% to 24.65 billion packages. billion, up 23.4%

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The Verge

AUGUST 24, 2021

The most valuable and profitable company in the world. Even in 2019, when Saudi Arabia opened up state-owned oil company Saudi Aramco for trading, it didn’t dominate for long : Apple surpassed it last July on its way to a $2 trillion market cap , and Apple is approaching $2.5 It’s more profitable than Saudi Aramco, too.

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