“Balad” Seeks Business Partner to Continue Operations

Hesam Armandehi, founder of the Hezardastan holding company, has announced that despite years of challenges, the mapping and navigation platform "Balad" continues to operate—but now seeks a partner to ensure its growth.

In a LinkedIn post, Armandehi stated: "Currently, Balad has over 10 million monthly active users and more than 1.04 million daily users." He explained that after separating from Hezardastan and despite financial and operational pressures, "a small team kept the platform alive by redesigning infrastructure, maximizing user privacy protection, and reducing costs." However, Balad now requires new resources for expansion and scalability, seeking "a partner who can secure a brighter future for the platform."

Armandehi emphasized the goal is to transfer Balad to an entity capable of "taking the product to the next level by leveraging its potential." Proposals will be reviewed until the end of Ordibehesht 1404 (late May 2025), as "time is limited."

Call for Investors
Addressing potential investors, Armandehi wrote: "If you’re interested in owning one of Iran’s most stable and popular digital products, please send a brief introduction and contact details to sale@balad.ir. All proposals will be carefully reviewed." He described Balad as a high-value asset, citing its "popularity among users, 45% market share in Iran’s navigation apps, optimized infrastructure, and growth potential."

According to Armandehi, Balad could "grow as part of larger platforms (e.g., super-apps) or independently—through ad revenue or by optimizing urban and road transport networks to cut costs and boost efficiency."

Balad’s Origins and Challenges
Balad was launched in 2018 (1397) under Hezardastan with ambitions to create 3D maps, street views of Iran, and infrastructure for autonomous vehicles. It gained traction after the filtering of "Waze," but in November 2022 (Aban 1401), Hezardastan downsized dozens of employees, citing "blocked funding avenues and the difficulty of sustaining long-term ROI businesses."

Internet disruptions and platform filtering during that period nearly led to Balad’s shutdown. Hezardastan’s statement expressed concerns over "internet restrictions and a securitized environment," noting: "Recent developments have cast doubt on our path and ability to protect users’ rights." While Hezardastan had "guaranteed Balad’s services until 2022," Armandehi’s recent remarks confirm the platform survived the past two years—and now seeks new investment to secure its future.