Locate reaffirms readiness for public listing in the Saudi market following success in the Eastern Province
Al-Eid pointed out that the Kingdom's investment landscape is experiencing a significant transformation under Vision 2030, making it attractive for both local and international companies. He stated:
'At Locate, we take pride in our contribution to the development of delivery services in the Eastern Province, an area witnessing remarkable growth in e-commerce and smart apps. We see going public as an important opportunity to accelerate our expansion plans into other regions of the Kingdom, and to benefit from the significant support offered by the Saudi market to tech companies.'
In a related context, Locate reviewed its major achievements since the merger of the 'Shuka and Maeda' apps in 2021, resulting in the creation of the new entity known as Locate. This merger unified resources, as well as technical and logistical expertise, leading to the development of an integrated platform offering highly efficient delivery solutions. Commenting on this, Al-Eid added:
'The merger between Shuka and Maeda' was a pivotal turning point in our journey. It reinforced our digital infrastructure and enabled us to expand our services to meet the needs of diverse customer segments in the Eastern Province, making us the top choice for many restaurants and stores.'
Al-Eid emphasized that the public listing will help strengthen the company's financial capabilities and support further investment in research and development, aiming to introduce more innovative technological solutions that cater to a broader range of consumers and businesses. He also reaffirmed Locate's commitment to boosting its presence in new cities and targeting a variety of sectors, supporting the company's continuous expansion in the Saudi market.
About Locate App
Locate was established as a specialized digital delivery platform, leveraging a flexible digital infrastructure and an efficient distribution network. It provides fast and secure delivery services for restaurants, stores, and supermarkets. Since the merger, it has recorded rapid growth in the Eastern Province, driven by the innovative solutions it offers in the delivery market.
About Shuka and Maeda
The 'Shuka and Maeda' apps were founded in 2017, specializing in food ordering services. In 2021, the two apps merged under one umbrella to create Locate, bringing together technical and logistical resources and expertise to enhance delivery solutions in the Kingdom.
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