Iranian online classifieds platform Divar, which has been compared to Craigslist, was blocked from listing on Tehran's stock exchange by the Islamic Revolutionary Guard Corps (IRGC) in spring 2025, the Washington Post reported on Thursday.
The platform, which has nearly 38 million active users, was blocked from making the move because of its chairman, who, according to an internal letter viewed by the Washington Post, is "outspoken" and "independent-minded."
Divar's founder, Hessam Armandehi, was reported to have a reputation for criticizing government actions, and the company has resisted government demands to turn in private user data and pressure to sell company shares to government-connected conglomerates.
The Washington Post reported that Divar had been pressured in recent years to sell some of its shares to a company part-owned by a conglomerate close to Supreme Leader Ali Khamenei.
Armandehi disclosed the IRGC's veto of the plan to take Divar public by publishing the letter on his LinkedIn profile.
The letter was sent to Armadehi's company by the stock exchange, and according to the report, said, “It is hereby brought to your attention that the Intelligence Organization of the Guards … has declared Mr. Hessam Mir Armandehi’s lack of qualification, and consequently, the company’s acceptance is contingent upon his absence."
Divar founder says he hasn't 'lost hope' or 'have any plans for emigrating'
Divar wrote in the LinkedIn post, "Even now, with all these pressures, I've neither lost hope nor have any plans for emigrating or leaving Divar."
In May, Iran’s vice president for science and technology, Hossein Afshin, told Iranian media that Divar had “no problem” being listed on the Tehran stock exchange, but said that “the security institution has several concerns, and these concerns are correct.”
Divar allows Iranians to buy and sell secondhand products as well as find and rent homes.
Four people familiar with the company told The Washington Post that "Divar is highly profitable," with foreign investors, including Europeans, holding 15% of the shares of Divar's parent company.
The report cited Iranian private-sector executives and experts who said that the IRGC's involvement in the Iranian economy had become routine.
It also showed the IRGC's ability to wield over companies it has no shares in, as the branch typically exerts influence on the economy through stakes it holds in construction, telecommunications, and oil.