Yalla Market

Yalla Market is an express product delivery service operating in Dubai, which was launched by Russians Leonid Dovbenko and Stanislav Seleznev in August 2021. The service delivers products and everyday goods for free from its own darkstors within a radius of 3 km.

History

2022

Investment from Dodo Pizza founder Fedor Ovchinnikov

The founder of Dodo Pizza, Fedor Ovchinnikov, at the end of April 2022 invested in the Dubai YallaMarket delivery service, founded by Russians. The volume of investments and other parameters of the transaction are not reported.

This week he made the first investment in his life as an investor. Before that, I only raised money... Dubai is one of the few markets where the unit economy converges in the ultra-fast grocery delivery segment, "said Fedor Ovchinnikov, commenting on YallaMarket investments.

The founder of "Dodo Pizza" Fedor Ovchinnikov invested in the Dubai YallaMarket delivery service, founded by Russians

The entrepreneur called the advantages of the new project: on the one hand, there is a solvent population with high demand and need for delivery in 15 minutes, on the other hand, the cost of labor and delivery is no more than 10% of the average order amount: this creates opportunities for profitability of the economy and development.

Ovchinnikov added that he would "try to help" YallaMarket not only with money, but also with knowledge and experience. According to Leonid Dovbenko, co-founder of Yalla Market, the deal will allow Ovchinnikov to gain international experience, and the startup will receive a business consultant in his person - this will "accelerate the pace of service development."

As Warren Buffett said: invest in what you understand. I have a good experience in the food delivery business. I understand and can bring value, "wrote Fedor Ovchinnikov in the Telegram channel.

According to the YallaMarket 's own data, which were published at the end of April 2022, downloads of the application YallaMarket grow by 50% per month. The number of daily orders increased by 330% and in the first quarter of 2022 compared to the previous three months. In April 2022, the YallaMarket announced that they would accept cryptocurrencies as a payment method.^[1]

Attracting $2.2 million of investments

In mid-February 2022, it became known about the investment of $2.2 million in YallaMarket. The Qatar fund Doha Tech Angels, the investment company Flyer One Ventures (specializing in financing projects in the CIS countries) and the club of venture investors AngelsDeck invested in the Dubai express delivery service of products founded by Russians as part of the bridge round .

The funds will be used to expand the network of darkstores in the UAE, as well as to prepare for a new round of financing (scheduled for March 2022). At the same time, the parameters of the investment transaction, including the estimated value of the startup and the share of investors in the project, are not disclosed. It is only known that the total amount of investments in the YallaMarket according to the results of two rounds amounted to more than $5 million.

Dubai-based express product delivery service Yalla Market, founded by Russians, raised $2.2 million

From the close of the pre-seed round in November 2021 to mid-February of the 2022nd YallaMarket, according to the service's own data, it quadrupled the revenue and number of orders, and the mobile application download growth was 250%. The delivery area has expanded through the opening of new points in the Dubai Marina and Dubai Silicon Oasis areas.

The UAE is actively introducing technology into all spheres of life, so this is a promising market for projects that AngelsDeck focuses on. Already, we can say that the MENA region (Middle East and Africa) has every chance to become one of the leaders in the delivery of products in 10-15 minutes. Therefore we are very glad to become the partner of YallaMarket, the first hyper local delivery service in the UAE, and we believe that at the project the big future, - the CEO of AngelsDeck club Igor Kaloshin comments.

According to Redseer analysts, the e-commerce market in the Middle East and North Africa will be 24% and reach $20 billion by 2024. By the beginning of 2022, about 20% of the region's digital economy is occupied by the fast delivery segment.^[2]

2021: Attracting $2.3 million of investments

In November 2021, the Yalla Market service attracted $2.3 million in investments as part of the pre-seed financing round, in which venture Wamda and Dubai Angel Investors funds, as well as private Dubai and Russian investors, participated. According to the results of this transaction startup , it was estimated at $10 million.

The Yalla Market team intends to spend the funds raised on opening new points in the UAE, as well as updating the mobile application and expanding the operating team (by the end of November 2021, the former managers of the local Amazon and the 7-Eleven supermarket chain are responsible for the development and assortment).

Dubai express product delivery service Yalla Market raised $2.3 million

It is reported that the new version of the application will adapt to the preferences of a particular user, so that the buyer can save time to make a cart.

By the end of November 2021, the delivery range on the platform includes 2800 items. According to the company's own data, it takes no more than 2.5 minutes to assemble an order, due to which the entire process of delivering the order is on average 15 minutes. Users order products through the mobile service application on average 4-5 times a week.

In 2021, Yalla Market opened the first darkstore in the Jumeirah Lake Towers high-density sleeping area. The second warehouse launched in November 2021 in the business center of Dubai Business Bay. By the end of the year, 4 more darkstores will be launched in Dubai.

In 2022, the company intends to launch 100 new darkstores in Dubai and Abu Dhabi, the first warehouses will also appear in Qatar and Saudi Arabia.^[3]

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