Shgardi, a Saudi food-delivery app, announced a permanent shutdown, due to intense competition and what it called market “price dumping.”
The app exits market after completing over seven million orders and serving more than three million customers across 35 provinces and cities nationwide.
Shgardi is owned by SafariforTradingandMarketingCo., a closed joint-stock company based in Al-Khobar. Launched in early 2020, the company has SAR 12 million in capital.
In late 2021, the firm appointed Watheeq Capital as financial adviser for a planned capital increase via a listing on the Nomu-Parallel Market.
Shgardi, a Saudi food-delivery app, announced a permanent shutdown, due to intense competition and what it called market “price dumping.”
The app exits market after completing over seven million orders and serving more than three million customers across 35 provinces and cities nationwide.
Shgardi is owned by SafariforTradingandMarketingCo., a closed joint-stock company based in Al-Khobar. Launched in early 2020, the company has SAR 12 million in capital.
In late 2021, the firm appointed Watheeq Capital as financial adviser for a planned capital increase via a listing on the Nomu-Parallel Market.
