Mohammed Jaffar, the owner of Talabat who sold it for 50 million Kuwaiti Dinars to Rocket Internet recently had a 1:30 hour interview with niu. In It he outlines everything he went through from buying the business to maintaining the business, to growing the business and finally selling the business. There’s a lot of useful information in that interview but here are some highlights:
- He only sold 80% of Talabat, the rest he will keep and sell at a much higher price in the future
- Mohammed Jaffar bought Talabat.com for 85,000 KD, before that they only had 6alabat.com
- One of his main strategies in the growth of the business was doing good and giving the needy
- Talabat became so successful that at one point a competitor showed up in his office, told him if he doesn’t sell the business to him he will destroy Talabat with competition and have restaurants turn against him
- Rocket Internet also bought most of Talabat’s competitors in the Arab region and will be renaming them to Talabat to have one major MENA online food delivery service
- After Talabat’s big sale investors in the west have higher interests in Kuwait and MENA region when it comes to investing and Mohammed is expecting other Kuwaiti online based companies to be sold in the near future
To listen to the full entire click [here].