Noon was founded in 2016 and launched operations in 2017, headquartered in Dubai, [[United Arab Emirates (UAE)]]. The company was founded by Mohamed Alabbar ([[Emaar Properties]] founder) and backed by [[Saudi Arabia’s Public Investment Fund (PIF)]] and other private investors from the Gulf region. Initial funding included $1 billion from founding investors, with PIF and Alabbar being the principal investors. The company has continued to expand through significant investments and acquisitions, including the notable purchase of NAMSHI in 2022. As a private company, it maintains a relatively closed ownership structure, though it's known that PIF and Mohamed Alabbar remain major stakeholders.