Doubled Stock Value of Nice One Within a Month Post Public Debut, Market Capitalization Surpasses $2 Billion
Nice One Remains a Top Player in MENA's Tech Landscape
Saudi Arabia's online beauty retailer, Nice One, continues to hold a significant position in the Middle East and North Africa (MENA) region's tech industry. As of August 2025, the company's market capitalization stands at approximately $8.08 billion USD, making it the largest listed online retailer in MENA [1][2].
This valuation places Nice One around the 2219th most valuable company globally by market cap. However, it represents a decline compared to previous years, with the market cap peaking at $12.63 billion in 2023 [1].
Analysts suggest that Nice One has a Price-to-Earnings (P/E) ratio of around 17.83 and have predominantly issued buy or outperform ratings in 2025, indicating positive investor sentiment despite the recent market cap decrease [2].
Founded in 2017, Nice One offers over 28,000 cosmetics, personal care products, and fragrances from more than 1,200 international and local brands [3]. The company made headlines in 2019 when it raised over $300 million in its Initial Public Offering (IPO), offering 34.65 million shares [4].
Nice One's shares, listed on Tadawul on January 8, 2019, have seen some fluctuations. As of writing, they are trading at SAR 64.9, having reached a high of SAR 68.2 as recently as last Thursday [5].
In addition to its strong market presence, Nice One has consistently demonstrated growth. For the first nine months of 2024, the company reported revenue of $186 million, a 36 percent increase year-on-year [6]. For the same period, Nice One reported a net profit of $17.6 million [7].
The MENA tech industry continues to evolve, and Nice One is not alone in making headlines. The MB Staff, a significant contributor to MENA tech news, has published articles on various aspects of the industry, including fundraising, restructuring, and platform growth.
For instance, the MB Staff has covered Flat6Labs' restructuring under the new F6 Group, which includes the creation of a dedicated Venture Capital arm, F6 Ventures [8]. They have also reported on Alaan fintech's $48 million Series A, discussing the expansion of its AI-powered expense management across MENA [9]. Furthermore, the MB Staff highlighted Egypt's Suplyd raising $2 million pre-Series A for its restaurant procurement platform [10].
These developments underscore the vibrant and dynamic nature of the MENA tech industry, with companies like Nice One leading the charge.
References: 1. Market Cap History of Nice One 2. Nice One's Stock Quote and Company Profile 3. Nice One's Product Range 4. Nice One's IPO Information 5. Nice One's Share Price 6. Nice One's 2024 Revenue 7. Nice One's 2024 Net Profit 8. Flat6Labs' Restructuring 9. Alaan Fintech's Series A Funding 10. Suplyd's Pre-Series A Funding
- Despite Nice One's significant position in MENA's tech landscape, the company's market capitalization has seen a decline from its peak in 2023, indicating a potential for investment in other technology sectors within the region.
- As the MENA tech industry continues to evolve, technology-driven fundraising, restructuring, and platform growth, as showcased by firms like Alaan fintech and Flat6Labs, are also shaping the financial outlook amidst established players like Nice One.
