Careem CEO on a decade of growth and 'decacorn' ambitions: Business Extra

Mudassir Sheikha reflects on his biggest lessons learnt and what's next for the Uber-owned company as it moves beyond ride-hailing

Careem CEO on what's next after a decade in business

Careem CEO on what's next after a decade in business

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)

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Updated: February 06, 2023, 7:10 AM