Skip to content
Back to the daily read

Daily Read: Business

Rags-to-Riches Story: How Careem Went from $100,000 to $3.1 Billion

Careem's co-founder Mudassir Sheikha recounts the company's humble beginnings, from a $100,000 investment to a $3.1 billion acquisition by Uber. The ride-hailing service faced numerous challenges, including a lack of funding, talent, and infrastructure in the Middle East.

· Watch on CNBC International

The essential points

  1. 01Careem started with a $100,000 investment from its co-founders
  2. 02The company faced significant challenges in the Middle East, including a lack of funding, talent, and infrastructure
  3. 03Careem expanded to multiple cities in the region, earning trust city by city
  4. 04The company's acquisition by Uber marked a significant milestone in its history
The full brief

Careem's co-founder Mudassir Sheikha recounts the company's humble beginnings, from a $100,000 investment to a $3.1 billion acquisition by Uber. The ride-hailing service faced numerous challenges, including a lack of funding, talent, and infrastructure in the Middle East.