Image: WAM/ For illustrative purposes
Online classifieds giant Dubizzle Group has paused its planned initial public offering on the Dubai Financial Market (DFM), despite reporting a 75 per cent surge in revenue over the past three years, as the company looking at an optimal time for its debut.
The move came just a day before the bookbuilding process was due to begin.
Founded in the UAE and widely seen as a fixture of daily life across the Gulf, Dubizzle operates property portal Bayut and dominates key classifieds segments in the region.
The platform serves more than 18m monthly active users and generates around 54m sessions across the UAE, Saudi Arabia, Egypt, and other GCC markets.
It holds about 65 per cent of UAE property traffic market share and 87 per cent of revenue share in autos.
Dubizzle reports strong revenue growth
Dubizzle reported $183m in revenue in 2024, up from $104m in 2022, with adjusted EBITDA margins improving from 25 per cent in 2022 to 46 per cent in H1 2025. The UAE accounted for nearly 89 per cent of total revenue, with expansion into Saudi Arabia underway.
The company is backed by Prosus NV, which had committed $100m to the offering.
Analysts say the decision could ultimately strengthen Dubizzle’s standing when it eventually lists, highlighting a growing preference in regional markets for sustainable growth over aggressive valuations.
