Among the backers are noon’s founder and chairman Mohammed Alabbar
The e-commerce platform Noon has raised $500 million in new funding from backers, including The Public Investment Fund (PIF) as it works towards a potential initial public offering, according to SEMAFOR website, citing people familiar with the matter. 
Also among the backers is noon’s founder and chairman, Mohammed Alabbar, the people said.
According to data available with Argaam, Alabbar said in September the company is very close to achieving profitability and plans a dual listing in Saudi Arabia and the UAE within two years.
The e-commerce company, a 50%-owned subsidiary of PIF, was launched in November 2016, with an initial investment of $1 billion.
Among the backers are noon’s founder and chairman Mohammed Alabbar
The e-commerce platform Noon has raised $500 million in new funding from backers, including The Public Investment Fund (PIF) as it works towards a potential initial public offering, according to SEMAFOR website, citing people familiar with the matter.
Also among the backers is noon’s founder and chairman, Mohammed Alabbar, the people said.
According to data available with Argaam, Alabbar said in September the company is very close to achieving profitability and plans a dual listing in Saudi Arabia and the UAE within two years.
The e-commerce company, a 50%-owned subsidiary of PIF, was launched in November 2016, with an initial investment of $1 billion.
