Careem

Not to be confused with Kareem.
Careem Networks FZ-LLC
Company typePrivate
IndustryTechnology
Founded2012; 12 years ago (2012)
Founders
  • Mudassir Sheikha
  • Magnus Olsson
  • Abdulla Elyas
HeadquartersDubai
Area served
70+ cities in the Middle East, Africa and Pakistan
Key people
  • Mudassir Sheikha
  • Magnus Olsson
  • Abdulla Elyas
ProductsMobile app
Services
Parente& (50.03%)
Uber
Websitecareem.com

Careem is a Dubai-based super app with operations in over 70 cities, covering 10 countries across the Middle East, Africa, and South Asia regions.[2] The company, which was valued at over US$2 billion in 2018,[3] became a wholly-owned subsidiary of Uber after being acquired for $3.1 billion in January 2020.[4] Careem expanded into the food delivery business with Careem Now in November 2018,[5] which evolved into Careem Food as well as the rapid grocery delivery service Careem Quik in 2020,[6] and launched a digital payment platform, Careem Pay in April 2022.[7] In April 2023, Careem's Super App business was spun out into a new legal entity, which e& acquired a 50.03% stake in,[8] while Uber maintains full ownership of Careem's ride-hailing business.

Careem's Super App has been described as a "one-stop-shop for all your daily needs".[9] For example - the Dubai version of the Careem Super App, provides many services such as Taxis, special (more affordable) ride packages for students,[10] food delivery from restaurants, groceries, discounts when eating out, bike and car rentals, payment services and much more.

  1. ^ "Careem rolling out 'most significant rebrand' in its history". campaignme.com. Retrieved 2023-05-23.
  2. ^ Zyl, Gareth van (2024-01-08). "Here is Careem's 2023 by all the numbers and figures". Retrieved 2024-03-21.
  3. ^ "Mideast ride-hailing app Careem raises $200 million to expand, expects more funds". Bloomberg.com. 2018-02-02. Retrieved 2018-03-08.
  4. ^ Somerville, Heather; Cornwell, Alexander; Azhar, Saeed (March 26, 2019). "Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East". Reuters. San Francisco/Dubai.
  5. ^ "Careem NOW: Engineering a robust and scalable food delivery application". Monstarlab. 24 November 2020.
  6. ^ Turak, Natasha (2021-12-09). "Uber-owned Careem gets in on the surging rapid grocery delivery market with UAE launch". CNBC. Retrieved 2024-03-21.
  7. ^ Tala Michel Issa (21 April 2022). "Careem Pay launches digital wallet for money transfers, withdrawals in UAE". Al Arabiya English.
  8. ^ Barrington, Lisa (2023-04-10). "UAE's e& takes $400 million majority stake in ride-hailer Careem's Super App". Reuters. Retrieved 2023-06-24.
  9. ^ Thomas, Aby Sam (2023-07-11). "Fueling Up: Careem's Entrepreneurial Journey Is Back On, Says Co-Founder And CEO Mudassir Sheikha". Entrepreneur. Retrieved 2024-03-21.
  10. ^ "UAE back to school: Careem School Rides offers 'stress-free' commuting options for students, parents - Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More". www.arabianbusiness.com. 2024-08-23. Retrieved 2024-10-08.