Mr Mandoob plans to go public on the Saudi stock market in the first half of 2026. The delivery services company now holds a valuation exceeding $213 million. CEO Obaid Al Enazi confirmed the plan as the company enters its next growth phase.From Self Funding to Rapid ScalePreparing for the Public MarketsRiding the Growth of Saudi’s Delivery EconomyCompetition and Market DynamicsA Signal of Startup Maturity The IPO comes just four years after launch. Mr Mandoob moved fast from a self funded startup to a scaled platform serving millions. The listing reflects confidence in both the company and the wider Saudi delivery market. From Self Funding to Rapid Scale Mr Mandoob began with limited internal funding. Early focus stayed on operations, coverage, and customer trust. As demand grew, the company raised external capital to accelerate expansion. Key milestones include: Launch with founder led self funding Successful investment rounds totaling $22.7 million Expansion of delivery coverage across the Kingdom Strong growth in users and transactions This capital helped the company strengthen logistics, recruit talent, and invest in technology. Each step pushed the business closer to public market readiness. Preparing for the Public Markets Mr Mandoob has started IPO preparations. The company now works closely with Saudi regulators to meet listing requirements. At the same time, it continues to scale its operations. Current priorities include: Completing regulatory and governance frameworks Strengthening financial reporting and controls Expanding partnerships with merchants and brands Upgrading core technology infrastructure The company now serves more than 14 million users. This scale supports its public listing ambition and long term growth story. Riding the Growth of Saudi’s Delivery Economy The IPO plan aligns with strong momentum in Saudi Arabia’s delivery and logistics sector. Consumer demand continues to rise. Digital adoption remains high. Market trends supporting the move include: Rapid growth in on demand delivery services Increased investor appetite for tech driven startups Rising role of SMEs in public markets Deeper capital market participation under Vision 2030 Small and medium enterprises now represent about 30 percent of listed companies in Saudi Arabia. Several startups have already moved from the parallel market to the main market as they matured. Competition and Market Dynamics The delivery sector remains highly competitive. Global players continue to enter the Saudi market. Local firms also pursue mergers and acquisitions to gain scale. According to Al Enazi, these dynamics will strengthen the sector over time. Increased competition drives efficiency and innovation. However, challenges persist. Key pressures include: Aggressive price competition High customer acquisition costs Margin pressure across platforms Some competitors have already exited the market. Mr Mandoob aims to compete through scale, partnerships, and operational discipline rather than price alone. A Signal of Startup Maturity The planned IPO signals more than one company milestone. It reflects the growing maturity of Saudi startups. It also shows how quickly young companies can reach public market readiness. If successful, the listing will position Mr Mandoob as a leading local delivery player. It may also encourage other high growth startups to consider the public markets. Meta Description (150 characters):Mr Mandoob plans a Saudi IPO in H1 2026 with a valuation above $213 million, highlighting strong growth in the Kingdom’s delivery sector. Tagline (150 characters):From startup to public markets, Mr Mandoob’s IPO plan reflects Saudi Arabia’s fast maturing tech and delivery ecosystem.