Snoonu, a leading technology company in Qatar, has announced the acquisition of Omani delivery platform 'Akeed' for $10 million.
Qatar's leading tech start-up, Snoonu, announced earlier today, May 29, 2022, its acquisition of "Akeed," a leading Omani food delivery platform for $10 million, with a network of more than 1,000 restaurants and grocery stores.
This milestone is considered the first ever achieved by a local tech start-up in Qatar. It serves as a step propelling the rising company forward and bringing it closer to achieving its goal of becoming the first local tech Unicorn company. The agreement will also shore up Snoonu’s business objectives that aim to diversify and expand the company’s operations across the region.
The acquisition announcement was made during an event that took place last Saturday, which was attended by members from the executive management of both companies, as well as high profile delegates, prominent stakeholders and leading figures across the local and regional business and entrepreneurship sectors.
Commenting on this partnership agreement, Mr Hamad Mubarak Al-Hajri, CEO and cofounder of Snoonu, said: “Our acquisition of Akeed was a decision made based on the company’s stellar reputation as one of the leading food delivery platforms in our sisterly Sultanate of Oman. Akeed’s wide network of restaurants and grocery stores will enable us to establish a solid foothold in the Omani market as our initial step towards an expanded regional presence and involvement.”
“This amazing milestone is quite exciting for us because it reinforces our efforts towards becoming Qatar’s first ever tech Unicorn. We owe it to the country and its visionary leadership to continue to seek growth around the world and to contribute towards the fulfillment of Qatar’s national vision of 2030.” he added.
From his side, Gaurav Anil Nahar CEO and Co-founder of Akeed, said: “We are excited about this agreement with Snoonu and we look forward to a future vision that will bring the latest in the e-commerce and logistics services industry to Oman. Akeed team is happy to be joining hands with such a successful brand from Qatar, and we believe that this deal will add more value to both markets.”
Snoonu is the first Qatari one-stop-shop application, facilitating online shopping, lifestyle, food, grocery delivery, and third-party logistics services for start-ups and SMEs in Qatar. In addition to offering its customers a seamless service and speedy deliveries for their items, the company is a pioneer, contributing to the development of the local tech economy by encouraging innovation and revolutionizing local online services.
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