Mudassir Sheikha, left, and Magnus Olsson, founding partners of Careem, a smartphone app based booking service for limousine services in the UAE. Antonie Robertson / The National
Mudassir Sheikha, left, and Magnus Olsson, founding partners of Careem, a smartphone app based booking service for limousine services in the UAE. Antonie Robertson / The National

Journey driven by generosity



There is perhaps nothing like being faced with your own mortality to make you reconsider your life's purpose.

For the former McKinsey consultant Magnus Olsson it was an aneurysm deep inside his brain that provided the catalyst. Not only was he lucky to survive the initial bleeding, but also the subsequent operations to fix it.

After his recovery, Mr Olsson took some time off in Thailand, sat with some monks and reflected.

"I didn't find out the real meaning [of life] but found out I am supposed to build something, something big," he says. At the age of 15, while still at school, Mr Olsson had founded a small IT consultancy in his hometown of Gothenburg in Sweden.

When he went off to university he handed over his clients to a competitor. It wasn't a big sale but it paid for his college expenses.

He decided to return to entrepreneurship and, along with another former McKinsey colleague, Mudassir Sheikha, began figuring out what business to start.

Before McKinsey, Pakistan-born Mr Sheikha had worked in Silicon Valley for a decade where he had some failures and finally a big success - a service called DeviceAnywhere, which made it easier for mobile app developers to test their product across a large number of different devices and phones.

The pair considered ideas in education, health care, even a fish farm. Eventually, agreeing they were both technology geeks at heart, they decided on a business in the Middle East in which technology would make a real difference.

They looked into ground transportation. As consultants they had travelled the world and had noticed that while airlines and hotels are quite seamless - with options to book and check in online - taxis are less reliable.

Readers will be familiar with the issues: a pre-ordered car's failure to appear; the driver's unfamiliarity with roads; the lack of payment options and, frequently, the driver's lack of change for cash payments; the paper receipts that are inevitably mislaid.

"We felt there was a bit of pain here, that we must be able to do better," Mr Olsson says. "We wanted to make ground transportation reliable and convenient and a little bit fun."

They decided on a limo booking service called "Careem". In Arabic, kareem - typically spelt with a "k" - means generous. They went with a "c" because they are in the car business but they also wanted the spirit of generosity to underpin the business. Central to the system is the Careem app and GPS technology. When a customer opens the app, it automatically finds his location, then asks for the destination. The system then calculates an approximate price for the ride.

The customer selects the booking time and if it's immediately, the app searches for the closest available Careem car. All Careem cars are fitted with a device that picks up the car request message. When a driver accepts the booking, the customer will see the driver's name, his location, his reliability rating, and an estimate of how far it will take to arrive at the pickup point.

The customer can track the driver's progress on his smartphone screen. The driver has navigation technology and knows exactly where the customer is. The customer is also sent the car model and its number plate.

The customer's payment details are stored and processed automatically and at the end of the trip a receipt is delivered to the app and via email.

As part of its kareem policy, drivers get training and customers get to rate each journey; if they are not happy a member of the Careem staff will look into why. So far, in 95 per cent of cases customers have rated their trips with four or five stars, according to Mr Olsson.

Booking with Careem is more expensive than hiring a local taxi because of its premium service but prices compare favourably to other limo companies.

The business was initially funded by the founders but an institutional investor is now on board to help the business grow in the UAE and in the region. Careem is already operating in Doha and is piloting in Riyadh.

"The commission that we keep is quite small and so for this to break even it has to be big scale," Mr Olsson explains. "That's why we are eager to expand. We think it will take us two years to be close to breaking even."

It seems that Mr Olsson's plans to build "something big" are coming to bear.

RESULTS

Lightweight (female)
Sara El Bakkali bt Anisha Kadka
Bantamweight
Mohammed Adil Al Debi bt Moaz Abdelgawad
Welterweight
Amir Boureslan bt Mahmoud Zanouny
Featherweight
Mohammed Al Katheeri bt Abrorbek Madaminbekov
Super featherweight
Ibrahem Bilal bt Emad Arafa
Middleweight
Ahmed Abdolaziz bt Imad Essassi
Bantamweight (female)
Ilham Bourakkadi bt Milena Martinou
Welterweight
Mohamed Mardi bt Noureddine El Agouti
Middleweight
Nabil Ouach bt Ymad Atrous
Welterweight
Nouredine Samir bt Marlon Ribeiro
Super welterweight
Brad Stanton bt Mohamed El Boukhari

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Our legal advisor

Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.

Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation. 

Education: Sagesse University, Beirut, Lebanon, in 2005.

Pakistan World Cup squad

Sarfraz Ahmed (c), Fakhar Zaman, Imam-ul-Haq, Abid Ali, Babar Azam, Haris Sohail, Shoaib Malik, Mohammad Hafeez(subject to fitness), Imad Wasim, Shadab Khan, Hasan Ali, Faheem Ashraf, Junaid Khan, Shaheen Shah Afridi, Mohammad Hasnain      

Two additions for England ODIs: Mohammad Amir and Asif Ali

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
LILO & STITCH

Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders

Director: Dean Fleischer Camp

Rating: 4.5/5

Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
House-hunting

Top 10 locations for inquiries from US house hunters, according to Rightmove

  1. Edinburgh, Scotland 
  2. Westminster, London 
  3. Camden, London 
  4. Glasgow, Scotland 
  5. Islington, London 
  6. Kensington and Chelsea, London 
  7. Highlands, Scotland 
  8. Argyll and Bute, Scotland 
  9. Fife, Scotland 
  10. Tower Hamlets, London 

 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

RESULTS

6.30pm: Maiden Dh 165,000 1,600m
Winner: Superior, Connor Beasley (jockey), Ahmad bin Harmash (trainer)

7.05pm: Handicap Dh 185,000 2,000m
Winner: Tried And True, Pat Dobbs, Doug Watson

7.40pm: Maiden Dh 165,000 1,600m
Winner: Roy Orbison, Fernando Jara, Ali Rashid Al Raihe
8.15pm

Handicap Dh 190,000 1,400m
Winner: Taamol, Dane O’Neill, Ali Rashid Al Raihe
8.50pm

Handicap Dh 175,000 1,600m
Winner: Welford, Richard Mullen, Satish Seemar

9.25pm: Handicap Dh 175,000 1,200m
Winner: Lavaspin, Richard Mullen, Satish Seemar

10pm: Handicap Dh 165,000 1,600m
Winner: Untold Secret, Xavier Ziani, Sandeep Jadhav

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
THE BIO

Ambition: To create awareness among young about people with disabilities and make the world a more inclusive place

Job Title: Human resources administrator, Expo 2020 Dubai

First jobs: Co-ordinator with Magrudy Enterprises; HR coordinator at Jumeirah Group

Entrepreneur: Started his own graphic design business

Favourite singer: Avril Lavigne

Favourite travel destination: Germany and Saudi Arabia

Family: Six sisters

World Cup League Two

Results

Oman beat Nepal by 18 runs

Oman beat United States by six wickets

Nepal beat United States by 35 runs

Oman beat Nepal by eight wickets

 

Fixtures

Tuesday, Oman v United States

Wednesday, Nepal v United States

 

Countries offering golden visas

UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.

Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.

Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.

Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.

Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence. 

2.0

Director: S Shankar

Producer: Lyca Productions; presented by Dharma Films

Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey

Rating: 3.5/5 stars