Careem. The name of the word means “generous.” Yes, the USD 3.1 billion price tag that the then arch-rival of Careem, Uber, paid to wipe their Middle Eastern competition out of its existence.<\/p>\n\n\n\n
The MENAPT region may have gained the immediate attention it lacked from the international annals of startup ecosystems. In the long-term game, though, it was a shortsighted decision on the part of Careem’s investors and management team.<\/p>\n\n\n\n
Careem made the competition between the then rivals of the middle-eastern ride-sharing market a “narrative of East vs West<\/strong>.” Careem and Uber’s clash was more than two ride-sharing giants in their markets. Careem weaved its culture, tradition, and values into its brand; Uber’s ruthlessness in the market globally is what made Uber into the giant that it is today.<\/p>\n\n\n\n In regional annals of commerce, there is a consensus that Careem could fetch a commercial valuation of between $5B-$10B. Careem could’ve conducted an IPO in the regional markets, which would’ve created even more economic activity for its investors, founders, and employees who held shares in the company.<\/p>\n\n\n\n Why did Uber acquire Careem? Careem was beating Uber at every turn in the MENAPT market. Careem’s content, marketing, and advertising kept it well ahead of the curve.<\/p>\n\n\n\n Dubai’s flurry of startups has shown that the city does not have a startup problem; instead, it has a scale-up problem<\/strong>. The city still has a long way to go; it is starting, scaling, and retaining big startups in the region.<\/p>\n","protected":false},"excerpt":{"rendered":" Careem. The name of the word means “generous.” Yes, the USD 3.1 billion price tag that the then<\/p>\n","protected":false},"author":2,"featured_media":20,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,6,5],"tags":[15,11,14,12,13],"class_list":["post-19","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-opinion","category-technology","tag-acquire","tag-careem","tag-middle-east","tag-ride-sharing","tag-uber"],"_links":{"self":[{"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/posts\/19","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/comments?post=19"}],"version-history":[{"count":1,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/posts\/19\/revisions"}],"predecessor-version":[{"id":21,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/posts\/19\/revisions\/21"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/media\/20"}],"wp:attachment":[{"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/media?parent=19"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/categories?post=19"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/longtrepreneur.com\/index.php\/wp-json\/wp\/v2\/tags?post=19"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}