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Investment giant Talabat secures over $2 billion, pegging its worth at a staggering $10.2 billion in the biggest tech Initial Public Offering (IPO) globally this year.

On-demand delivery service Talabat, a prominent player in the Middle East and North Africa, sets its Initial Public Offering (IPO) at the maximum price range, securing $2.04 billion. In response to robust investor interest, the company expanded its offering size to 20% of its total share...

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2025 August 27 . 5:31 AM

2 min read

In this report, online food delivery service Talabat secures over $2 billion in funding, giving it... — In this report, online food delivery service Talabat secures over $2 billion in funding, giving it a staggering valuation of $10.2 billion, marking the most significant tech IPO globally for the year.

Investment giant Talabat secures over $2 billion, pegging its worth at a staggering $10.2 billion in the biggest tech Initial Public Offering (IPO) globally this year.

Talabat's Successful IPO and Continued Growth in MENA's Online Delivery Sector

Talabat, a pioneering on-demand delivery platform in the Middle East and North Africa (MENA), has made waves in the region's online delivery sector. Founded in Kuwait in 2004, Talabat now operates across eight MENA countries, including the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain, Oman, Jordan, Egypt, and Iraq.

With a network of over 6 million active customers, 65,000 partners (restaurants and shops), and 119,000 riders, Talabat offers a wide range of services including food, grocery, and convenience retail delivery. The company's services have been instrumental in transforming the way people in the MENA region shop and dine.

In December 2024, Talabat conducted a highly successful initial public offering (IPO) on the Dubai Financial Market. The company priced its shares at AED 1.60, raising an impressive $2.04 billion. This made Talabat's IPO the largest global technology IPO in 2024 and the largest IPO in the MENA region this year. The offering was significantly oversubscribed, with a double-digit oversubscription level, indicating strong interest from international, regional, and local investors.

Despite this strong IPO, Talabat’s stock price has faced some challenges in 2025, with shares dropping nearly 19% since the start of the year and closing 1.5% lower recently. However, this share price decline has occurred alongside a surge in earnings, with reported profit growth in the first half of 2025 driven by expansion in its main markets.

Talabat continues to focus on leveraging technology and expanding its product offerings. The company is not just about food delivery anymore; it is also venturing into groceries and pharmaceuticals. Talabat emphasizes strong customer service, fast deliveries, and a broad partner network to maintain market leadership.

The CEO, Tomaso Rodriguez, highlighted the IPO as one of the fastest in history and outlined growth strategies, including AI applications in operations and a focus on profitability and sustained expansion in the MENA region. Delivery Hero, the parent company, will retain an 80% majority stake in Talabat post-listing.

In summary, Talabat is a pioneer in MENA's online delivery sector with deep regional penetration and strong brand equity, backed by a major parent company, Delivery Hero. After its 2024 IPO, Talabat has achieved solid financial performance despite some stock market volatility, continuing to innovate and grow across its core market segments.