What is Careem?
Careem is an online car booking service provider in Dubai. It uses mobile Internet technology to develop a new type of online intelligent taxi-hailing system, mainly providing taxi, private car, express and other taxi-hailing services to users in the Middle East and North Africa, solving people's travel problems.
Saudi Telecom (STC) has agreed to invest $100 million in Arab ride-sharing company Careem, taking a 10% stake. Careem, a Dubai-based startup, operates in 47 cities across the Middle East, Türkiye and Pakistan. Last month, its chief executive, Mudassir Sheikha, told media that Careem was preparing to expand overseas, including into East Africa. STC was an early investor in Careem and led Careem’s seed round of financing with $1.7 million through its own venture capital firm STC Ventures.
Careem’s development history:
Founded in 2012, Careem supports multiple languages including English, Arabic, French, Urdu and Turkish, providing users with a wealth of travel options. Its business covers more than 80 cities in 13 countries including Pakistan, Turkey, Egypt, Morocco, Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman, Jordan, Lebanon and Palestine, with more than 250,000 drivers and over 12 million users.
At the beginning, Careem had no application, just a simple booking website and calendar, and it was first targeted at businesses, providing commuting services for employees.
The ride-sharing service started in 2012.
The iOS application was launched in 2013.
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