Uber’s Delivery Hero takeover faces new threat as Saudi unicorn Ninja eyes HungerStation

Just when Uber appeared to be gaining momentum in its pursuit of Delivery Hero, a Saudi startup founded by the man who created HungerStation has entered the picture.

Riyadh-based quick-commerce unicorn Ninja is reportedly considering a bid for parts of Delivery Hero’s Middle East business, a move that could complicate Uber’s effort to acquire the German delivery giant. The development, first reported by the Financial Times, adds a new player to an increasingly crowded contest over some of the most valuable delivery assets in the Gulf region.

“Ninja is considering a bid for some of Delivery Hero’s Middle East assets, adding to a list of suitors that could complicate Uber’s plan to buy the German food delivery company. Riyadh-based Ninja’s options include buying HungerStation and partnering with another group to acquire parts of Talabat,” The Financial Times reported.

The story carries a twist. Ninja was founded by Ebrahim Al-Jassim, the entrepreneur who originally built HungerStation and later sold it to Delivery Hero. Now, with a new billion-dollar company under his control, Al-Jassim may be seeking to reclaim the business that helped launch his career.

Uber’s Pursuit of Delivery Hero

Uber has spent the past several weeks pushing to gain control of Delivery Hero.

The ride-hailing and delivery giant first approached the Berlin-based company in May with a takeover proposal valued at roughly €10 billion, or about $11.6 billion. Delivery Hero rejected the offer, but Uber did not walk away. Instead, it began buying shares on the open market, raising its stake to roughly 37% and becoming the company’s largest shareholder.

The attraction extends far beyond Europe.

Delivery Hero controls some of the strongest delivery brands across the Middle East. Those assets include Talabat, which operates in the UAE, Kuwait, Qatar, Bahrain, Oman, Jordan, Egypt, and Iraq, as well as Saudi Arabia’s HungerStation.

Image credit: Delivery Hero

Those businesses have benefited from growing demand for online food delivery, grocery services, and mobile commerce across the Gulf. Talabat has reported strong growth in both gross merchandise volume and revenue in recent quarters, making the region one of Delivery Hero’s most attractive growth engines.

The Founder Wants HungerStation Back

Ninja has emerged as one of Saudi Arabia’s fastest-growing technology companies.

Founded in 2022, the company built its business around ultra-fast delivery of groceries, pharmacy products, household essentials, beauty products, and prepared food. It operates a network of dark stores across Saudi Arabia and has expanded into Bahrain, Qatar, and Kuwait.

The startup reached unicorn status in 2025 after raising $254 million in a funding round led by Riyad Capital. The financing valued Ninja at approximately $1.5 billion and positioned the company for broader expansion across the Middle East and North Africa. The company has previously indicated plans for an eventual listing on Saudi Arabia’s Tadawul stock exchange.

According to reports, Ninja’s immediate interest centers on HungerStation. Market observers expect the company could submit a formal proposal to Delivery Hero’s board as early as this week.

If that happens, the deal would bring the HungerStation story full circle. Al-Jassim built the company, sold it to Delivery Hero, left the business, and later launched Ninja, which grew into one of HungerStation’s strongest local competitors.

More Rivals Enter the Picture

Ninja is not the only group standing in Uber’s way.

Prosus, the Amsterdam-listed technology investor and former major shareholder in Delivery Hero, secured a temporary waiver from European regulators earlier this month, removing pressure to reduce its stake. Reports suggest Prosus is exploring ways to increase its influence, organize shareholder support, or oppose an Uber transaction unless better terms emerge.

DoorDash has reportedly examined Delivery Hero’s Middle East operations as well, highlighting the strategic value attached to the region.

Global delivery companies are increasingly drawn to Gulf markets, where high smartphone adoption, dense urban populations, strong consumer spending, and favorable delivery economics continue to support growth.

What Happens Next?

Delivery Hero has not publicly commented on Ninja’s reported interest.

For Uber, the emergence of competing bids creates a new challenge. The company has signaled that its interest lies in acquiring Delivery Hero as a whole. A separate bid for HungerStation or other regional assets could complicate that objective and force Uber to rethink its approach or offer more attractive terms.

The broader backdrop is a wave of consolidation across food delivery and quick commerce. Profit margins remain under pressure, and companies are looking for scale, stronger market positions, and access to faster-growing regions.

Saudi Arabia has become one of the most closely watched technology markets in that race. Ninja’s rise from startup to unicorn reflects the Kingdom’s push to build local technology champions capable of competing with global platforms.

Whether Ninja ultimately submits a formal offer, triggers a bidding contest, or simply delays Uber’s plans remains uncertain.

One thing is becoming clear: Uber’s path to owning Delivery Hero is no longer a straightforward takeover story. A Saudi founder who once built HungerStation may now have a chance to bring it home.