Divar
Entity IDIR-CO-004
SectorClassifieds
Founded2012
HQTehran
VerificationReported
Last reviewed2026-07-18
Iran's largest peer-to-peer classifieds platform for goods, property, and jobs.
Tehran Index tracks this company as part of a source-linked research record on Iran’s technology economy. Access opens to a limited first cohort. Register for access, or browse the registry.
Decision snapshot
Platform scale
44M unique phone numbers · 129.5M ads posted per year · 5.2M daily active ads
2020-21Company disclosed
Divar Annual Report FY1399 (reviewed) · retrieved 2026-07-10
Group
Hezardastan: Divar · Karnameh · Sotoon. Cafe Bazaar sold to Tapsell in Jan 2025; Balad independent per July 2026 co-founder statement
2026-07Third-party reported
intellinews; PitchBook; Zoomit ↗ · retrieved 2026-07-10
Monetisation
"Second largest portfolio holding, mainly driven by Divar monetisation success"; first dividends paid; GMV growth above 50%
2021-04Third-party reported
Pomegranate Investment Q4 2020/21 report (CEO letter) ↗ · retrieved 2026-07-10
2017 valuation anchor
EUR 38M for 10% of Cafe Bazaar Group (Divar then included) implies ~EUR 380M pre-money
2017-Q4Third-party reported
Pomegranate Investment Q4 2017 portfolio update ↗ · retrieved 2026-07-10
Every field carries an explicit evidence state and its source. Self-reported figures are labelled as such; nothing is presented with more certainty than its source supports.
Operating metrics, period-stamped
Content and moderation2020-21Company disclosed
141B+ ad views per year · 55,000 users blocked by moderation
Advertisers & installs2021-22Company disclosed
21.8M+ unique advertisers (+18% YoY) · 23.6M+ active Cafe Bazaar installs at year-end
Devices & ads (9-month, CEO on record)Mar-Dec 2024Company disclosed
62M unique devices opened the app · 94M ads published (108M reviewed, 86% publish rate) · 18M ad-posting users
User base and platform position (to April 2025)To 30 April 2025Third-party reported
Over 38 million users, described as continuing to lead the Iranian online classifieds market with strong annual revenue growth. Artificial intelligence is applied to content moderation and fraud detection.
Metric series, change over time
Ads published per year · annual reports
2020-21129.5M
2021-22139.7M+
Divar FY1399 annual report · Divar FY1400 annual report (PDF via mirror) ↗
Unique phones opening the app · annual reports
2020-2144M
2021-2253.1M+
Divar FY1399 annual report · Divar FY1400 annual report (PDF via mirror) ↗
Series are basis-consistent: values are only charted against comparable prior periods. Approximation qualifiers from the source are preserved. Rial figures follow the filing convention (million rial); toman conversions are ours and labelled.
Business model & group
ModelDurableThird-party reported
C2C classifieds across goods, vehicles, property and jobs; free listing with paid promotion and business tools
Leadership
OriginsDurableThird-party reported
Founded 2012 within the Cafe Bazaar family (founders Reza Mohammadi & Hessam Armandehi); later consolidated under Hezardastan
Hezardastan CEOCurrentNot disclosed
Not publicly confirmed
Leadership (registry)Registry snippet, 2026-07-11Official record
CEO: Ashkan Mir Armandehi · Chairman: Hessam Mir Armandehi (also representative of the Hezardastan parent)
Corporate family
Tracked entities in the same corporate family. Ownership percentages appear in Ownership & capital only when disclosed.
Ownership & capital
Pomegranate see-through stake2017-Q4Third-party reported
Increased from 3% to 4.5% in the 2017-Q4 round
Legal entity & parent (registry)Registry, snippet capture 2026-07-11Official record
Opco: Agah Pardazan-e Hooshmand (private joint stock, ~2016) · "Divar" trademark registered 1398/09/26 · PARENT: Hezardastan IT Development Group (holding, registered capital 1,500B rial)
Group restructuring under way (2025)From 2025, ongoingThird-party reported
A corporate restructuring process at Cafe Bazaar Group, which holds both Cafe Bazaar and Divar, was launched during and shortly after the year to 30 April 2025 and was still ongoing at the time of reporting.
Position within the Hezardastan groupAs at 30 April 2025Official record
Divar sits within the Hezardastan group. A shareholder in that group reported owning 100% of Divar at group level as at 30 April 2025, and gave a combined look-through economic interest of 4.3% across Cafe Bazaar and Divar together rather than separately. That combined disclosure reflects the structure as it then stood: Cafe Bazaar has since been acquired by Tapsell, whose holding company is Pegah Holding, so the two are no longer under one owner.
Competitive set
Competitive setCurrentTI derived
Sheypoor (direct classifieds; its Apr-2021 shareholder mark implies ~EUR 56M) · Bama (vehicles vertical)
Evidence timeline, how this record was built
2026-07-11Registry documentCorporate registry records, Digipay, Alibaba, Divar/Hezardastan, Snapp7 records
Date pendingAnnual reportDivar Annual Report FY1399 (reviewed)2 records
Primary sources catalogued in the Evidence Library; extracted claims appear above as period-stamped facts, never as current news.
Signals & timeline, Divar mentions
From the published signal feed; each record links to its source. All signals →
What we don't know
Post-FY1399 metricsCoverage pending
Cap tableNot disclosed
Annual reports after FY1400Not disclosed
FinancialsNot disclosed
Stated gaps are part of the record: in an opaque market, knowing what is NOT publicly established is as decision-relevant as what is.
Source ledger, every field, its evidence
Platform scale
44M unique phone numbers · 129.5M ads posted per year · 5.2M daily active ads
Divar Annual Report FY1399 (reviewed) · retrieved 2026-07-10retrieved 2026-07-10
Group
Hezardastan: Divar · Karnameh · Sotoon. Cafe Bazaar sold to Tapsell in Jan 2025; Balad independent per July 2026 co-founder statement
intellinews; PitchBook; Zoomit ↗ · retrieved 2026-07-10retrieved 2026-07-10
Monetisation
"Second largest portfolio holding, mainly driven by Divar monetisation success"; first dividends paid; GMV growth above 50%
Pomegranate Investment Q4 2020/21 report (CEO letter) ↗ · retrieved 2026-07-10retrieved 2026-07-10
2017 valuation anchor
EUR 38M for 10% of Cafe Bazaar Group (Divar then included) implies ~EUR 380M pre-money
Pomegranate Investment Q4 2017 portfolio update ↗ · retrieved 2026-07-10retrieved 2026-07-10
Content and moderation
141B+ ad views per year · 55,000 users blocked by moderation
Divar Annual Report FY1399 (reviewed) · retrieved 2026-07-10retrieved 2026-07-10
Advertisers & installs
21.8M+ unique advertisers (+18% YoY) · 23.6M+ active Cafe Bazaar installs at year-end
Divar FY1400 annual report (PDF via mirror) ↗ · retrieved 2026-07-11retrieved 2026-07-11
Devices & ads (9-month, CEO on record)
62M unique devices opened the app · 94M ads published (108M reviewed, 86% publish rate) · 18M ad-posting users
CEO Ashkan Armandehi, Digiato Insider live stream (timestamped) ↗ · retrieved 2026-07-16retrieved 2026-07-16
Model
C2C classifieds across goods, vehicles, property and jobs; free listing with paid promotion and business tools
Wikipedia; Tehran Index registry ↗ · retrieved 2026-07-10retrieved 2026-07-10
Origins
Founded 2012 within the Cafe Bazaar family (founders Reza Mohammadi & Hessam Armandehi); later consolidated under Hezardastan
Wikipedia ↗ · retrieved 2026-07-10retrieved 2026-07-10
Hezardastan CEO
Not publicly confirmed
retrieved 2026-07-10
Leadership (registry)
CEO: Ashkan Mir Armandehi · Chairman: Hessam Mir Armandehi (also representative of the Hezardastan parent)
Official corporate registry records (indexed capture) · retrieved 2026-07-11retrieved 2026-07-11
Pomegranate see-through stake
Increased from 3% to 4.5% in the 2017-Q4 round
Pomegranate Investment Q4 2017 update ↗ · retrieved 2026-07-10retrieved 2026-07-10
Legal entity & parent (registry)
Opco: Agah Pardazan-e Hooshmand (private joint stock, ~2016) · "Divar" trademark registered 1398/09/26 · PARENT: Hezardastan IT Development Group (holding, registered capital 1,500B rial)
Official corporate registry records (indexed capture) · retrieved 2026-07-11retrieved 2026-07-11
Competitive set
Sheypoor (direct classifieds; its Apr-2021 shareholder mark implies ~EUR 56M) · Bama (vehicles vertical)
Tehran Index registry; Pomegranate Q4 2020/21 · retrieved 2026-07-10retrieved 2026-07-10
User base and platform position (to April 2025)
Over 38 million users, described as continuing to lead the Iranian online classifieds market with strong annual revenue growth. Artificial intelligence is applied to content moderation and fraud detection.
Pomegranate Investment AB (publ), audited Annual Report 2024/25 ↗ · retrieved 2026-08-13retrieved 2026-08-13
Group restructuring under way (2025)
A corporate restructuring process at Cafe Bazaar Group, which holds both Cafe Bazaar and Divar, was launched during and shortly after the year to 30 April 2025 and was still ongoing at the time of reporting.
Pomegranate Investment AB (publ), audited Annual Report 2024/25 ↗ · retrieved 2026-08-13retrieved 2026-08-13
Position within the Hezardastan group
Divar sits within the Hezardastan group. A shareholder in that group reported owning 100% of Divar at group level as at 30 April 2025, and gave a combined look-through economic interest of 4.3% across Cafe Bazaar and Divar together rather than separately. That combined disclosure reflects the structure as it then stood: Cafe Bazaar has since been acquired by Tapsell, whose holding company is Pegah Holding, so the two are no longer under one owner.
Pomegranate Investment AB (publ), audited Annual Report 2024/25 ↗ · retrieved 2026-08-13retrieved 2026-08-13
Last full review: 2026-07-18 · Tehran Index research desk · corrections: desk@tehranindex.com
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Registered entity
Legal entityAghe Pardazan-e Hooshmand
Entity typeoperating
StatusActive
Registered1395/06/01 (2016-08-22)
Registered capital3.5 trillion IRR
Board & shareholders
Ashkan MirarmandehiCEO · outside board
Hesam MirarmandehiChairman · rep. Hezardastan IT Development Group
Seyed Majid RazaviVice Chairman · rep. Esperlous Hamrahan Hooshmand
Mehran Arabirep. Rayanesh Abri Vahed Hezardastan
Ownership(prior entry) Independent from Hezardastan since Jan 2025
Entity notesGroup: Hezardastan retained Divar as core business after selling Cafe Bazaar to Tapsell (AIM Group + bne IntelliNews, Jan 2025); earlier "independent since Jan 2025" tag was a misread of that deal.
Registered capital is the share capital recorded in the official gazette. Increases are real corporate events, but they are commonly funded from retained earnings or converted receivables and are also driven by inflation and regulatory minimums. It is not a valuation, and Tehran Index does not present it as one.
Official contact
Registered addressInnovation Tower, Shahid Beheshti University, Darakeh St, Daneshjou Blvd, Evin, Tehran, Iran (2nd floor, unit 201)
Postal code1983960050
Phone021-79458000
Emailsupport@divar.ir
Instagram@divar.official
Evidence & verification
Verification tierReported, single public source
Primary evidencearc-up.ir
Registry identifiersWithheld for compliance
Fields on this profile derive from linked public sources or the official company registry; unknown values stay blank rather than guessed, and estimates are always labelled. How we verify →
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