Careem became the Middle East's first unicorn, a start-up with a valuation of at least $1 billion, in 2016 and three years later was bought by Uber for $3.1bn.
The deal allowed the company to continue to operate independently, and today, its co-founder and chief executive Mudassir Sheikha says it was only the beginning: he plans to stay with Careem as it reaches for 'decacorn' status — a company valued at $10bn.
As Careem celebrates its 10-year anniversary this week, Mr Sheikha is seeking new funding, hires and acquisitions as he leads the expansion of a super app, going into services beyond ride-hailing to include food and grocery delivery, financial services and new partner services including car rental and home cleaning.
He joins co-hosts Mustafa Alrawi and Kelsey Warner this week to reflect on the past decade and talk about what is still to come.
In this episode
Careem after a decade (0m 13s)
Growth with Careem's super app (3m 44s)
User growth v profitability (9m 15s)
The lessons learnt (14m 42s)
Emerging markets, entrepreneurial trends and what's next for Careem (19m 45s)
Read more
Dubai's Careem acquires money transfer platform Denarii in FinTech push
Careem acquires UAE food delivery platform Munch:On
Careem rental bike fleet to double in size as Dubai embraces cycling
Uber agrees to buy Careem for $3.1 billion in biggest ever tech deal for region
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Engine: 2.0-litre 4cyl turbo
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Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
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AT4 Ultimate, as tested
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THE POPE'S ITINERARY
Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
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9.15am: private visit to undisclosed cathedral
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Avengers: Endgame
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• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
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• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
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