When Dubizzle Group announced plans to list on the Dubai Financial Market (DFM), it appeared to be the long-awaited answer to a question that has lingered over the MENA startup ecosystem: can a homegrown company successfully build, scale, and deliver a meaningful public market exit in the region? However, just a day before bookbuilding was set to begin, the company announced a pause to its planned initial public offering (IPO).
For anyone who has lived in the UAE, Dubizzle is an essential part of daily life. When residents move to Dubai, before even unpacking, they are often on Dubizzle searching for furniture. Need a car? Dubizzle. Apartment? That’s Bayut—also owned by Dubizzle. Job hunting? Back to Dubizzle.
The platform generates approximately 54 million monthly sessions and serves over 18 million monthly active users across the UAE, Saudi Arabia, Egypt, and other GCC markets. It holds roughly 65% of traffic market share in UAE property classifieds and commands 87% of revenue market share in autos.
So embedded is Dubizzle in everyday life that many users may not realize they are engaging with one of the region’s most significant potential public tech listings.
Financially, Dubizzle has demonstrated impressive momentum. The company has increased annual revenues by 75% in the past three years, rising from $104 million in 2022 to $183 million in 2024, while adjusted EBITDA margins expanded from 25% in FY 2022 to 34% in FY 2024, and further to 46% in H1 2025.
This represents a mature, profitable, cash-generating business that exemplifies the potential for sustainable technology enterprises in the MENA region. The UAE currently accounts for 89% of Dubizzle’s total revenue, with active expansion efforts underway in Saudi Arabia as part of its regional growth strategy.
In explaining the IPO delay, Dubizzle cited “optimal timing” and the need to “assess” market conditions. While the company reported “strong engagement and interest from investors,” current sentiment across regional IPOs has become more selective. Recent listings such as Alec Holdings, which is down more than 6% since its debut, and high-profile names like Talabat and Lulu Retail, currently trading below offer prices, underscore this trend toward disciplined pricing.
Josh Gilbert, Market Analyst at eToro, serves as the official spokesperson for this release. He commented: “The decision by Dubizzle to delay its IPO highlights a new phase of maturity for Gulf capital markets. Investors are becoming more valuation-conscious, focusing on sustainable growth and long-term profitability rather than short-term hype.
This shift signals a healthy recalibration in the market, where strong fundamentals will ultimately determine which listings succeed.
Dubizzle’s solid financial performance gives it the flexibility to choose the right moment for entry, which may strengthen investor confidence when it returns to market.” Backed by Prosus NV, which had committed $100 million to the offering, Dubizzle maintains strong fundamentals and has reiterated plans to revisit the IPO “at an appropriate time in the future.”
For the wider MENA technology ecosystem, this development reinforces a new reality: exits are possible—but they must be priced correctly. As the regional IPO ecosystem in Dubai and Saudi Arabia continues to evolve, investor discipline and market transparency are setting a higher standard for future listings.
Ultimately, Dubizzle’s decision to wait for the right market window may prove more valuable than a rushed debut, underscoring the region’s progress toward more mature, investor-driven public markets.
