Following his successful exit from HungerStation, Ebrahim Al-Jassim has transformed his quick-commerce startup, Ninja, into a prominent Saudi Arabian tech unicorn. The company is currently exploring a potential initial public offering in Riyadh to capitalize on its rapid expansion and increasing investor appetite. This move marks a significant milestone for the founder as he seeks to further solidify his influence within the Kingdom’s evolving digital economy.
Ninja’s financial trajectory has been remarkable, with the platform generating approximately $1 billion in revenue during 2025 alone. Looking ahead to 2026, the company is targeting a surge to $1.6 billion as it scales operations across Saudi Arabia and enters new markets like Bahrain, Qatar, and Kuwait. Such aggressive growth targets highlight the startup's ambition to dominate the Gulf’s highly competitive and fast-paced delivery landscape.
The startup’s valuation reached $1.5 billion in 2025 following a successful $250 million funding round led by the prominent investment firm Riyad Capital. Since its founding in 2022, Ninja has quickly ascended to join the elite group of tech unicorns within the Kingdom of Saudi Arabia. This influx of capital and high valuation reflects strong market confidence in the company’s logistics infrastructure and its long-term scalability.
Ebrahim Al-Jassim’s leadership has been the driving force behind this venture, representing a highly successful professional comeback after his departure from HungerStation in 2019. His deep expertise in the food delivery and logistics sectors has allowed Ninja to outpace many established competitors in a relatively short timeframe. By merging his past experience with new innovations, Al-Jassim is now positioning his latest venture for a historic debut on the public market.
Source: smashibusiness
