Who Owns noon?

Who owns Noon?
Noon is owned by the Saudi Public Investment Fund (PIF), which holds approximately 50%, and Mohammed Alabbar, who holds the remainder alongside other investors including Alshaya Group. Alabbar is the founder and also serves as chairman of Emaar Properties. The company has raised $2.7 billion in total funding, including a $500 million round in December 2025. Noon is privately held and not listed on any stock exchange.

Is Noon publicly traded?
No, Noon is a privately held company. It is not listed on any stock exchange. However, founder Mohammed Alabbar has publicly stated that Noon is targeting a dual IPO in the UAE and Saudi Arabia within two years. The company is working to demonstrate profitability before proceeding with the listing, as Alabbar has said investors no longer accept the long-term loss-making model common in Silicon Valley e-commerce.

When was Noon founded?
Noon was founded in 2016 by Mohammed Alabbar with backing from the Saudi Public Investment Fund. The platform launched publicly in late 2017 in the UAE and Saudi Arabia. The company was created in direct response to Amazon's acquisition of Souq.com, the leading Middle Eastern e-commerce platform, for $580 million.

What countries does Noon operate in?
Noon operates in three core markets: Saudi Arabia, the United Arab Emirates, and Egypt. The company has focused on these three countries rather than pursuing broader regional expansion. India has been identified as a potential future expansion target, though no specific timeline has been announced.

What is Noon's revenue?
Noon does not publicly disclose its financial statements as a private company. However, the company generated an estimated $5 to $6 billion in gross merchandise value (GMV) during 2024. Founder Mohammed Alabbar told the Financial Times in September 2025 that the company was "almost" profitable. The company has raised $2.7 billion in total funding and was last valued at close to $10 billion.

What is Namshi?
Namshi is a fashion-focused e-commerce platform that Noon acquired in 2019 for an undisclosed amount. Namshi was previously backed by Global Fashion Group and operates as a separate brand within the Noon ecosystem, focusing on fashion, footwear, and beauty products. The acquisition gave Noon an established position in online fashion retail across the Middle East.

How does Noon compete with Amazon?
Noon competes with Amazon by emphasizing its regional focus, Arabic-language interface, local seller network, and understanding of Middle Eastern consumer preferences. The company also benefits from PIF backing, which provides financial resources and strategic alignment with Saudi Arabia's Vision 2030. Noon has diversified beyond pure e-commerce into food delivery, quick commerce, and payments, creating a broader ecosystem than Amazon's regional operations.