We are leaders in a highly attractive and under-penetrated market
For the month of September 2024, talabat had more than 6 million monthly active
customers, and as of 30 September 2024, over 65,000 active Partners and more than
119,000 active riders, making us the largest platform in the countries in which we
operate, with the highest number of orders, largest relative segment share, and
widest geographic reach amongst our peers in the MENA region.
talabat’s technology connects customers, partners and riders in eight countries in the MENA
region, which have a population of over [185] million and an addressable population
of over 71 million.
talabat capitalises on the region’s high urbanisation,
growing population and rising online penetration rate in the food and grocery and
retail segments, offering localised services that meet the diverse needs of our
customers.
Our business model fuels growth, service quality and platform loyalty
talabat’s business model benefits from powerful local network effects, which fuel a virtuous cycle of
growth, improvements to service quality and deepening of platform loyalty – the “talabat flywheel”. As
talabat’s value proposition attracts more customers to join its platform, the platform receives more
orders. Greater customer demand attracts more Partners, who benefit from more sales due to higher customer
volume. More Partners means a more diverse selection for our customers. More customers and Partners on the
talabat platform attract more riders, which in turn leads to a better delivery experience, increased
coverage for our partners and better fleet utilisation and efficiency.
talabat is focused on continuously delivering an attractive value proposition to customers, across three
critical dimensions:
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Selection: Over 56,300 Restaurants, 9,500 Local Shops, and more than 155 cuisines
and non-food categories on the platform.
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Experience: Focused on convenience, reliability and personalisation, with customers
benefitting from a 99% order success rate and an average delivery time of less than 30 minutes, in
each case, for the month of September 2024.
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Value: Targeted and personalised promotions and discounts to customers, granting
them annual savings which are funded by Partners, business-to-business partnerships and bank
partnerships.
We have an attractive financial profile with a robust track record of growth
talabat has a strong track record of delivering profitable growth, with GMV for cohorts of customers
acquired since 2019 having increased by approximately [4]x, and a cash conversion rate exceeding 90% for
the first nine months of 2024.
Gross Merchandise Value (GMV) totalled AED [22.3] billion in 2023, representing a 24%
CAGR between 2021 and 2023, or up 26% in constant currency terms. In the nine months ended 30 September
2024, talabat’s GMV was AED [•] million compared to GMV of AED 16.3 billion for the nine months ended 30
September 2023, reflecting a period-on-period increase of [•]%.
Revenue totalled AED [8.3] billion in 2023, up [28]% year-on-year. In the nine months
ended 30 September 2024, talabat’s revenue amounted to AED [•] million compared to AED 6.0 billion for the
nine months ended 30 September 2023, reflecting a period-on-period increase of [•]%.
Adjusted EBITDA totalled AED [XXX] million in 2023, up [XX]% year-on-year.
Free Cash Flow amounted to AED [1.1] billion in 2023, up [80]% year-on-year. In the nine
months ended 30 September 2024, talabat’s Free Cash Flow amounted to AED [•] million compared to AED 778.6
million for the nine months ended 30 September 2023, reflecting a period-on-period increase of [•]%.
Free Cash Flow Margin was [4.96]% and [•]% for the year 2023 and the nine months ended
30 September 2024, respectively
We are pioneers in technological innovation and have the ability to leverage the reach,
experience
and expertise of Delivery Hero
talabat’s technology is the engine that drives our business, supported by over 480+ talented product,
design, engineering, and data technologists across its tech hubs.
Our machine learning models allow us to introduce and cross-sell verticals, as well as initiatives such
as talabat Pro and talabat Rewards, at the right time for customers to benefit.
Our understanding of customers helps us understand the next set of Partners and deals to introduce in
each geography, allowing us to seamlessly bridge the gap between customer demand and Partner interest.
Being part of Delivery Hero, talabat has the ability to leverage its global reach, experience and
expertise to enhance its own capabilities and benefit from innovation around the world. Our access to, and
use of, technology owned by Delivery Hero gives us industry-leading innovation capabilities and tailored
solutions for our customers, Partners and riders.
We have a passionate and highly experienced management team with proven execution
capabilities
talabat’s success to date has been driven by its experienced management team, dedicated to building the
best order experience for every constituent using its marketplace. We are proud to have over 40 years
combined c-suite management experience in our ranks.
Our local and regional organisational structure provides significant operational leverage and allows
talabat to maintain an efficient selling, general and administrative cost base. By empowering our regional
teams, we foster innovation, ensure consistency in planning and execution, and effectively implement best
practices across our markets.
