Jahez Acquisition Delivers Qatar’s First Billion-Riyal Tech Exit

Saudi Arabia’s Jahez Group has acquired Qatar-based delivery platform Snoonu in a transaction valued at approximately US$245 million, marking what is widely considered Qatar’s first tech exit of this scale.

The acquisition places Snoonu beyond the one-billion-riyal valuation threshold, representing a significant milestone for Qatar’s technology ecosystem. It also reflects a broader shift in the Gulf’s startup landscape, where homegrown platforms are increasingly reaching maturity and attracting regional acquirers.

The transaction underscores growing cross-border activity within the GCC, as established players look beyond their domestic markets for expansion and consolidation opportunities. It also highlights the increasing role of structured advisory processes in facilitating large-scale exits in the region.

Consulting HAUS acted as the exclusive sell-side advisor on the deal, reinforcing the importance of professional advisory support as regional transactions become more complex and capital-intensive.

Beyond its immediate financial impact, the Snoonu acquisition raises the bar for founders and investors in Qatar, setting a clear benchmark for scale, valuation, and exit potential. It also strengthens Qatar’s position as a viable base for building technology companies capable of competing and exiting at a regional level, signalling a new phase of maturity for the country’s startup ecosystem.