Welcome to the first instalment of our ‘Built in the UAE’ entrepreneurial series. Today we take a look at Careem and its dominant internet platform.
Of course, this UAE startup success story needs very little introduction: famously established in 2012 as a ride-sharing app, it recently announced that its internet platform has amassed an astonishing 48 million users.
And there will be more to come. Since its much-publicised acquisition by Uber at the start of 2020, Careem’s new ‘Super App’ has propelled it into another league. The app offers a plethora of services from ride-hailing, RTA taxis, deliveries of food and goods, to money transfer and mobile recharge. Everything, in short, to keep our frantic modern lives running smoothly.
Careem’s roots are firmly planted in the UAE. From its early years it has received backing from local companies including STC, Al Tayyar, Kuwait Investment Authority and Dubai’s Abraaj Capital. A local pedigree with – today – a global outreach.
How has Careem achieved so much in such a relatively short time? A few key foundational philosophies help paint a picture:
Of course, there has been much more to Careem’s success over the years. They jumped on an opportunity and moved quickly, they sought support from the right players along the way, and they aggressively entered new markets to expand their reach from a UAE-play to a regional-and-beyond play.
One thing is certain: When it comes to UAE-homegrown success stories, there is a lot to learn from the Careem journey, and a lot to admire. Which is why we’ll continue to keep a close eye on this company’s development as it furthers its mission to ‘make everyday life simple’ for its users.
Next up we’ll be looking at how the UAE’s Souq.com built from the ground up into an ecommerce powerhouse. To catch up on all our past content just visit our blog.