Saudi Arabia’s Ninja, a rising quick-commerce player, is preparing for a potential initial public offering (IPO) as early as 2026. In fact, it has been successful in securing a valuation of $1.5 billion. The move positions Ninja among the Kingdom’s most promising tech unicorns. MOre than that, it underscores the growing maturity of Saudi Arabia’s startup ecosystem.
From Startup to Unicorn
Founded in 2022 by Saud Al Qahtani and Canberk Donmez, Ninja has quickly become a household name in the fast-delivery space. The company specializes in ultra-fast delivery services, offering everything from groceries to pet supplies.
With operations now spanning Saudi Arabia, Bahrain, Qatar, and Kuwait, Ninja is capitalizing on the region’s appetite for speed and convenience in everyday shopping.
Earlier this year, Ninja raised $250 million in funding, led by Riyad Capital. This helped in cementing its unicorn status and fueling further regional expansion.
IPO Plans in Motion
The company has reportedly started talks with investment banks to advise on a potential listing. It has requested proposals from underwriters and financial advisors.
- ✔️ The IPO could happen as soon as 2026, though timing and size remain undecided.
- ✔️ According to Bloomberg, the deal could also be pushed to 2027 depending on market conditions.
- ✔️ Ninja’s public listing would add momentum to Saudi Arabia’s growing tech IPO pipeline. The ecosystem already includes fintech leaders Tabby and Tamara.
Riding the Vision 2030 Wave
Ninja’s IPO ambitions align closely with Saudi Vision 2030, the Kingdom’s blueprint for economic diversification. By fostering a robust startup ecosystem and attracting global capital, Saudi Arabia is working to reduce its dependence on oil and strengthen its role as a regional hub for innovation.
- ✔️ Tech IPOs are emerging as a key pillar of this strategy.
- ✔️ Startups like Ninja signal the maturity of Saudi’s entrepreneurial ecosystem.
- ✔️ Global investors are showing increased confidence in the Kingdom’s digital economy.
Market Significance
If successful, Ninja’s IPO would not only provide a high-profile exit for investors but also send a strong signal to global markets about the growth potential of Saudi’s tech scene. It could also inspire more regional startups to pursue public listings, driving greater liquidity and visibility in the Kingdom’s capital markets.
Looking Ahead
While the IPO path is not yet finalized, Ninja’s rapid growth and billion-dollar valuation highlight how quickly the Middle East’s quick-commerce sector is evolving. The company’s trajectory reflects a broader trend: tech-first solutions gaining mainstream traction in Saudi Arabia and beyond.
As one of the most closely watched startups in the region, Ninja’s next chapter could redefine expectations for Saudi tech firms entering the public markets.