In a statement issued on Wednesday, Oct. 22, Dubizzle said that it had received “strong engagement and interest from investors” but had elected to postpone the IPO to “assess optimal timing for the offering in the future.” The company had announced the timing of the IPO earlier this month, making for a rapid volte-face.

The company added that it “remains focused on executing its strategy of growing its highly profitable UAE business and expanding its footprint in Saudi Arabia.”

Dubizzle, which operates marketplace horizontal Dubizzle and property site Bayut.com, had planned to offer 30.3% of its share capital — about 1.2 billion shares — with the listing scheduled for Nov. 6. The company’s largest shareholder, Prosus N.V. — which holds its stake through subsidiary OLX B.V. — had committed to invest $100 million as part of the offering.

In its prospectus, Dubizzle stated that revenue rose by 26.6% year on year (y-o-y) to $133 million in the first half of 2025. It reported full-year revenue of $222 million in 2024, up by 0.5% from $221 million in 2023 and 12.3% from $198 million in 2022.

The company remains loss-making, but its net loss has narrowed significantly in recent years — from $127 million in 2022 to $62.3 million in 2024. In H1 2025, it recorded a net loss of just $8.9 million. However, “The statutory accounts include businesses that were discontinued and divested / sold,” Dubizzle Group told the AIM Group. “When excluding the discontinued / divested operations, Dubizzle group has been profitable since 2022  on a consolidated basis.”

Dubizzle reported a 46% adjusted EBITDA margin for the first half of 2025, up from 31% in the year-earlier period.

The delay follows a series of mixed IPO performances on the Dubai Financial Market and Abu Dhabi Securities Exchange. For example, shares in recently listed construction company Alec Holdings are currently trading 8% below their listing price.

Dubizzle noted that Adjusted EBITDA “adjusts for the effects of any non-routine, non-operational one-of items. These include impairment losses on financial assets, fundraising costs, foreign exchange losses, restructuring-related costs and rebranding costs. It also excludes the effects of cash-settled share-based payments.”

The company wrote in a LinkedIn post that this performance was “a testament to our strong fundamentals, resilient UAE business and continued focus on sustainable growth… Our platforms, [marketplace horizontal] Dubizzle and Bayut.com, continue to lead the UAE’s real estate and autos classifieds markets, driving value for millions of users and partners every day.”

Group revenue rose by 26.6% year on year (y-o-y) to $133 million in the first half of 2025, reflecting both organic growth in the UAE and expansion in Saudi Arabia, the company said. Dubizzle reported full-year revenue of $222 million in 2024, up by 0.5% from $221 million in 2023 and 12.3% from $198 million in 2022.

The UAE accounted for 89% of adjusted revenue in H1 2025. During this period, this market delivered $105 million in adjusted revenue, $48 million in adjusted EBITDA and $43 million in adjusted net profit.

“Adjusted revenue corresponds to revenue from contracts with customers adjusted for the cost of motor vehicle inventories,” the company said.

Dubizzle Group remains loss-making, but its net loss has narrowed significantly in recent years — from $127 million in 2022 to $62.3 million in 2024. In H1 2025, it recorded a net loss of just $8.9 million.

The company noted that “These historical losses were primarily due to non-routine, non-operational items, which mainly include share-based payment expense… impairment losses on financial assets related to businesses disposed… and deferred tax arising upon enactment of UAE corporate tax law on goodwill and intangible assets.”

“Excluding these non-routine, non-operational costs, the Group has been profitable on a Group adjusted net profit basis in 2023, 2024 H1 and 2025,” it added.

“Being an asset-light company, growth now trickles down into solid EBITDA,” said CEO Imran Ali Khan.

While the UAE remains its backbone, Dubizzle is scaling quickly in Saudi Arabia, a market Khan described as “growing fantastically.”

The company noted that “Substantial operational resources have already been deployed in KSA, including fully operational offices in Riyadh and Jeddah, a team of over 600 employees as of June 2025 and the implementation of the Group’s scalable technology stack. This includes more than 10 apps and market intelligence platforms, geospatial mapping, neighbourhood-level penetration strategies, agency census data and localised product and pricing models, all supported by over a decade of technology R&D.”

The company said its marketplaces had an average of 18 million monthly active users in H1 2025, with an average of 54 million monthly sessions during this period.

Subscription to Dubizzle Group’s IPO will open on Oct. 23 — also the date on which its price range will be announced — with the company set to list on the Dubai Financial Market on Nov. 6. The final offer price will be announced on Oct. 30. The group intends to offer 30.3% of its share capital, equivalent to 1.2 billion shares.

The company’s largest shareholder, Prosus N.V. — which holds its stake through subsidiary OLX B.V. — has committed to invest $100 million as part of the offering.

Dubizzle Group rival Property Finder raised $250 million in debt financing earlier this month.

Update Oct. 23: The section of the Dubizzle website and the Dubizzle LinkedIn post referred to in this brief have since been taken down. This followed the company’s announcement that it had decided to indefinitely delay its IPO.

U.K.-based used car marketplace Motors.co.uk returned to profit for the first time in five years during 2024, but the improvement was largely due to an accounting change.

The company reported a pre-tax profit of £621,000 ($834,000) for 2024, compared with a £9.3 million loss the year before, according to accounts filed at Companies House. This represented a pre-tax net margin of 1.2%. The company last posted a profit in 2019, when it made £3.7 million.

Turnover more than doubled, rising by 148% year on year (y-o-y) to £49.9 million ($67.0 million) in 2024. The directors attributed this to the “full-year impact from the novation of dealers in Q4 2023 from Gumtree to the company, to align revenue recognition to the operating business.” During 2024, all dealer advertising across Motors.co.uk and affiliated sites was booked directly within Motors.co.uk.

A novation is an agreement made between two contracting parties to allow for the substitution of a new party for an existing one.

Administrative expenses rose by almost two thirds (64.4%) y-o-y to £47.2 million, driven by increased marketing costs, people transfers, inter-company recharges and one-off IT separation spending. On an adjusted basis, operating EBITDA came in at £7.1 million.

The company closed 2024 with net assets of £8.0 million, up from -£24.7 million at the end of the previous year. The improvement was mainly due to the forgiveness of an inter-company loan by its parent.

Motors.co.uk’s immediate parent company was Gumtree.com Ltd until October 2023, when ownership was transferred to Classifieds Group Ltd. Gumtree was later sold in September 2024 to a consortium led by Chinese classifieds giant 58.com and private equity firm Ocean Link.

Motors.co.uk has more than 280,000 live listings on its site and 380,000 across its wider network. It says it works with more than 5,000 dealers, providing them with marketing tools, buyer data and syndication.

Motors.co.uk paid £5 million to acquire the Cazoo brand in June 2024, after Cazoo collapsed under the weight of mounting losses. The purchase was aimed at attracting more customers to Motors.co.uk’s marketplaces.

The update means Gumtree’s 10 million monthly users can now access Bark’s extensive network of professionals, from gardeners and plumbers to counsellors and tutors. Bark professional listings — including ratings and reviews — will now be integrated into Gumtree’s home services section, following a significant UX redesign.

“This will provide almost 30,000 service people across all corners of the country and offer more choice to our customers than ever before,” said Andy Harper, chief operating officer at Gumtree. “We will be able to connect service providers with the 10 million people that use Gumtree every single month. 

Gumtree, one of the U.K,’s most popular marketplaces offering free listings, has overhauled the user journey in a bid to make hiring easier and more secure, aligning with its wider ambition to become the go-to marketplace for the home.

Bark, meanwhile, connects users with experts across more than 1,000 categories — spanning home, pet, lifestyle, and garden — and supports over 189,000 active professionals worldwide.

“We’re delighted to be working with Gumtree, a brand that shares our mission to make finding great professionals fast, easy and secure,” said John Oberlin-Harris, general manager of Bark UK. “This allows Bark professionals to support even more customers, whether they’re looking for a reliable plumber, a tutor who really inspires the kids, or a compassionate counsellor.”

Under new ownership since September 2024, Gumtree is undergoing a strategic revival. Now owned by 58.com — one of China’s largest online classifieds platforms — the company has increased its marketing spend by more than 50%.

Drivers can now browse, configure and purchase both new and used LCVs directly through the London-headquartered company and across its portfolio brands, including Auto Express. Volkswagen Commercial Vehicles is the official launch partner.

Carwow added used LCVs to its c-to-b auctions in late 2023. From Aug. 18, customers can also shop for new and used vans — with full listings, side-by-side comparison and configurator tools available across its sites.

The company says that research it conducted found that van buyers are increasingly digital-first, with 87% researching their next purchase online. Carwow revealed that van-review content across its group brands reached 1.4 million views in 2024.

Alastair White, commercial director of OEM and media at Carwow, said: “Carwow is synonymous with a positive car-changing experience, and now we want to bring that to the van market. From today, van drivers will be able to configure and compare new or used vans on Carwow and Auto Express, make use of our easily navigated comparison tools and transparent pricing, and find the right van for them.”

Volkswagen Commercial Vehicles’ head of marketing, Eve Tyers, described the collaboration as a “fantastic opportunity to showcase our range to a wider audience.”

The U.K.’s new LCV market grew by 3% to 351,834 vehicles in 2024 — the highest level of fleet renewal since 2021 — according to the Society of Motor Manufacturers and Traders.

Founded in 2010, Kevel says it “is transforming the retail media space with its cutting-edge, AI-driven ad tech infrastructure APIs that power the Retail Media Cloud. This groundbreaking solution combines the power of AI insights with API-based technology, allowing multibrand retailers to build dynamic, customizable ad platforms while maintaining full control of their first-party data.” It says its client roster includes Edmunds, Delivery Hero and Home Depot.

The move is part of CarWow’s broader strategy to grow its retail media business, leveraging its user data to deliver highly targeted, personalized promotions. With Kevel’s Retail Media Cloud service, Carwow will roll out new advertising formats, including native ads, sponsored listings and personalized offers. 

It said the system would facilitate faster campaign launches (in as little as 14 days), stronger audience targeting leveraging its 3.5 million monthly users, and better reporting for the dealerships it works with.

Gareth Menton, head of product at CarWow, said: “Kevel’s Retail Media Cloud provides the tools and flexibility we need to create a bespoke retail media solution that not only aligns with our brand but exceeds the expectations of our users and advertisers.” 

Kevel CEO James Avery commented: “We’re excited to help CarWow transform the automotive ecommerce space by creating an innovative and customised advertising network.”

This collaboration reflects a wider shift across marketplaces and classified sites to monetize traffic through first-party data and self-serve advertising infrastructure — an area traditionally dominated by tech giants like Google.

Founded in 2013, Chairish says it connects 4.1 million buyer and seller accounts annually through a list-price model focused on unique, sustainable home design. The San Francisco-based company generated $51 million in revenue in 2024, with 80% of this derived from the U.S. and 20% from Europe. Revenue is drawn from commissions, seller subscriptions, and marketing and shipping fees.

ATG, a marketplace operator for curated online auctions, said the acquisition strengthens its competitive position in the global Arts & Antiques (A&A) market by expanding inventory and buyer reach. The London-based company added that it will now be able to offer consumers the choice of auction and list-price merchandise across selling formats.

The acquisition of Chairish adds 1.3 million curated items and 12,000 sellers to ATG’s existing community of 4,000 auctioneers, and increases its monthly traffic by 4.5 million visits, according to the company. ATG already boasts monthly A&A traffic of 25.5 million.

The deal is expected to generate $8 million in operational synergies by FY2027 (the 12 months to September 2027) and become earnings accretive in the same year. Chairish is forecast to deliver double-digit annual revenue growth and an adjusted EBITDA margin of around 30% over the medium term.

ATG said the acquisition will unlock further synergies through cross-listing inventory and applying its proven marketplace model, including value-added seller services and technology integration.

ATG chief executive John-Paul Savant said the transaction transforms ATG’s A&A value proposition by allowing buyers to access one-of-a-kind inventory across multiple formats while helping sellers improve sell-through.

The acquisition will be funded through existing cash resources and ATG’s revolving-credit facility. It is expected to generate returns above the company’s weighted average cost of capital by FY2028. ATG reported an adjusted net debt position of $106.5 million at the end of March 2025.