Noon
E-commerce group founded by Mohamed Alabbar with Saudi Arabia's Public Investment Fund. It runs a marketplace, food delivery and quick grocery delivery in the UAE, Saudi Arabia and Egypt, among other markets.
Industry: E-commerce | Location: Dubai, United Arab Emirates | Founded: 2016 | Total Funding: USD 500M
About Noon
noon is a Middle East e-commerce platform founded by Emirati businessman Mohamed Alabbar. It was announced in 2016 and launched in 2017, shortly after Amazon acquired the Dubai-based marketplace Souq.com. Besides online retail, the group operates food delivery, grocery and logistics services in Saudi Arabia, the UAE and Egypt. Dubai is usually listed as its base, though several sources also describe a large presence in Riyadh. The company is backed by Saudi Arabia's Public Investment Fund (PIF) and by investors led by Alabbar. Bridge Middle East reported that PIF holds about half of the company, with the rest held by investors led by Alabbar. In a September 2025 interview with the Financial Times, Alabbar said noon had raised USD 2.7 billion in total and was last valued at close to USD 10 billion. In December 2025, Zawya, Wamda and other outlets reported, citing unnamed sources, that noon had raised USD 500 million from existing backers, including investors linked to PIF, with Alabbar also participating. PIF declined to comment. The round was described as strengthening the balance sheet as the company moves closer to a possible initial public offering, although no stage or closing date was given. The roughly USD 10 billion valuation is Alabbar's earlier figure rather than one confirmed for this round. In late 2025, noon and the Saudi delivery platform Jahez announced an integration of their apps in the Kingdom. Jahez customers see a noon Minutes tile inside the Jahez app, and the noon app in Saudi Arabia features Jahez for food delivery. The arrangement is a commercial partnership; no merger or change of ownership has been reported. It came as both firms faced competition from Keeta and HungerStation in food delivery. noon has not announced a formal IPO timetable. Market participants quoted in press coverage expect it to explore a listing in Saudi Arabia, the UAE or both within about two years, with talabat's IPO serving as a valuation benchmark. Competition in last-mile delivery, dark stores and on-demand services has intensified, adding pressure on margins. In May 2026 Alabbar announced that noon would open its first official office in Damascus, Syria.
Leadership
- Faraz Khalid, Chief Executive Officer