Careem CEO Only Pakistani On Bloomberg’s Top 50 List For 2018

Changing Pakistan’s business sphere, ride-hailing giant Careem has undoubtedly have had their impression on their international market as well. It can be well reflected from the fact that Careem’s CEO and Co-founder Mudassir Sheikha is the only Pakistani on Bloomberg’s top 50 list for 2018.

Bloomberg releases an annual list of emerging leaders who are casting their impression on the global business sphere. Careem has proved to be competition for Uber, which the reports suggest was also in discussions to be acquired by Careem for $2.5 billion.

The company has over 1 million drivers in Northern America and the Middle East, allowing customers to avail bike, car, rickshaws and boats. Speaking to Bloomberg, Sheikha said that technology is bridging the gap and is a tool to overcome modern day challenges.

“Technology is enabling regional economies to leapfrog traditional infrastructure challenges around transportation, banking, and communication” – Sheikha said to Bloomberg.

Careem’s estimated value has gone over $2 billion as the company enjoys the boom.

“Internet-enabled services are having a profound and positive impact on our region, where the consumer internet opportunity is huge and untapped” – Sheikha added.

Launched in 2012, Careem was initiated as an online service Sindh’s capital Karachi as a web-based interface. Initially, it handled corporate orders. With his influence, Sheikha is also contributing to One Million Arab Coders initiative, offering online courses on its website.

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