Saudi-based quick commerce platform Ninja is preparing for an Initial Public Offering (IPO) on the Saudi stock market, Tadawul, in the near future. According to founder Saud Al-Qahtani, the move is part of a clear strategic plan designed to meet the expectations of the market and investors.
Market Dominance and Strategic Expansion
Al-Qahtani highlighted that Ninja has established a significant footprint across the Kingdom, covering the majority of urban areas and reaching a large portion of the population. This growth was achieved through a calculated expansion strategy based on user data analysis. He stated that the company currently commands the largest market share in the digital grocery sector, measured by both user engagement and service penetration.
A Data-Driven Path to Profitability
While continuing to scale, Ninja is already achieving operational profitability in several of its business segments. The company maintains a strong focus on data analytics and performance metrics to continually refine its business model and identify new growth areas. Having started in the grocery delivery sector, Ninja has prioritized speed and efficiency, supported by a robust infrastructure of smart warehouses and supporting dark stores.
Beyond Groceries: A Vision for Digital Retail
Al-Qahtani emphasized that Ninja views itself as a comprehensive player in the broader digital retail market, not just a delivery service. In line with this vision, the company plans to broaden its services to include additional sectors such as pharmacies and beauty products, transforming its platform into a multi-category digital marketplace.
Fueling Growth with Strategic Funding
Ninja’s ambitious expansion plans are backed by significant capital. The company raised $250 million in its latest funding round, with the proceeds earmarked for enhancing its technological capabilities, increasing its geographical reach, and accelerating its entry into new retail verticals.
About Ninja
Ninja is a leading Saudi Arabian quick commerce platform specializing in the rapid delivery of groceries and other retail goods. Leveraging a sophisticated infrastructure of smart warehouses and a data-driven approach, the company aims to dominate the digital retail landscape in the Kingdom by expanding its services into various sectors, including pharmacies and beauty.
Source: Jawlah
