{"id":18810,"date":"2019-05-08T15:15:15","date_gmt":"2019-05-08T12:15:15","guid":{"rendered":"https:\/\/www.ibtdi.com\/?p=18810"},"modified":"2019-05-08T05:17:55","modified_gmt":"2019-05-08T02:17:55","slug":"careem-ceo","status":"publish","type":"post","link":"https:\/\/www.ibtdi.com\/en\/careem-ceo\/","title":{"rendered":"The rise of Pakistani entrepreneur Mudassir Sheikha, founder of Careem"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/amp.businessinsider.com\/images\/5c6ee2982628981e6b1292d2-750-375.jpg\" alt=\"\u00d9\u0086\u00d8\u00aa\u00d9\u008a\u00d8\u00ac\u00d8\u00a9 \u00d8\u00a8\u00d8\u00ad\u00d8\u00ab \u00d8\u00a7\u00d9\u0084\u00d8\u00b5\u00d9\u0088\u00d8\u00b1 \u00d8\u00b9\u00d9\u0086 \u00e2\u0080\u00aaMudassir Sheikha .. founder of &quot;Careem&quot;\u00e2\u0080\u00ac\u00e2\u0080\u008f\" \/><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><strong><span style=\"color: #ff6600;\">Name:<\/span> \u0645\u0648\u062f\u0627\u0633\u064a\u0631 \u0634\u064a\u062e\u0629<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><strong><span style=\"color: #ff6600;\">Nationality:<\/span> \u0628\u0627\u0643\u0633\u062a\u0627\u0646\u064a<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><strong><span style=\"color: #ff6600;\">Company:<\/span> \u0643\u0631\u064a\u0645<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><strong><span style=\"color: #ff6600;\">\u0627\u0644\u062a\u0623\u0633\u064a\u0633:<\/span> \u064a\u0648\u0644\u064a\u0648 \u0639\u0627\u0645 2012<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"><span style=\"color: #ff6600;\"><strong>\u00a0<\/strong><\/span><strong><span style=\"color: #ff6600;\">\u0627\u0644\u0645\u0642\u0631:<\/span>\u00a0<\/strong><strong>\u062f\u0628\u064a<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">With the aim of offering customers across the Arab world an exceptional, distinctive service\u2014and inspired by the spirit of generosity and a desire to care for their health and families\u2014the idea for the company was born <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Careem, launched by Mudassir Sheikha, CEO and co-founder, grew from a venture into a service reaching millions.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Careem, which offers ride-hailing through its website and smartphone app and lets users track their car on a map, grew rapidly. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Customers can pay in cash or by credit card. Careem went on to become one of the region\u2019s most successful companies. How did Mudassir make it happen?<\/span><\/p>\n<p>&gt;<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\"><strong>\u0646\u0634\u0623\u062a\u0647<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Mudassir was born in Karachi, Pakistan, to a middle-class family. His father came from a family involved in the rice trade. He attended an English-medium school <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">and earned top grades, which helped him secure a scholarship to study computer science at the University of Southern California in the United States.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> His family could not afford the tuition. He studied physics and mathematics, which helped him complete his degree in three years.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> \u0648\u0646\u0635\u0641 \u0628\u0627\u0644\u062c\u0627\u0645\u0639\u0629.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Modasir was deeply influenced by his mother, a traditional Pakistani woman who married at a young age and devoted all her focus and ambitions to her children\u2019s education, while<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\"> his father had not had the opportunity to receive much formal education.<\/span><\/p>\n<p>&gt;<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\"><strong>\u0641\u0643\u0631 \u0631\u064a\u0627\u062f\u064a<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">He began his career as a consultant at Ernst &amp; Young\u2014one of the world\u2019s largest professional services firms\u2014and earned a master\u2019s degree in computer science from <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Stanford University.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">After graduating, Modasir could think of nothing but starting a company. Within a few months, he joined a company called Brience in San Francisco, <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">where he gained foundational experience in 2000.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Raise a staggering $200 million in the first round of funding\u2014the best investment ever for a startup\u2014with the goal of <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">turning a private company into a public one by taking it public within nine months.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\"><strong>\u0634\u0631\u0643\u0629 \u0645\u0627\u0643\u064a\u0646\u0632\u064a<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Modasser earned a master\u2019s degree in computer science in 2003, then returned to Pakistan and founded a small IT company called: <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Device Anywhere, the third company he had founded.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">He worked for four years at McKinsey, a global management consulting firm, in Dubai. McKinsey was the best place he learned how to work independently; <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">He spent most of his time working in engineering. He learned how to approach business challenges, find solutions, and communicate with senior executives; <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">all of which helped his confidence grow day by day.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\"><strong>\u0634\u0631\u0643\u0629 \u0643\u0631\u064a\u0645<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Mudassir Sheikha co-founded Careem in July 2012. He also served as vice president at Keynote, a company specializing in software development and marketing. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">for websites.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Sheikha was responsible for finding solutions for the organization and managing every aspect of delivering products to consumers. He then spent two years in Karachi, Pakistan\u2019s largest city, <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">where he established a full-fledged mobile offshore development center. He later served as director of Solerent, which he had founded.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\"><strong>The hardship behind the idea<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Mudassir met his partner, Magnus, at McKinsey, a global management consulting firm. Magnus underwent a <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">successful brain surgery, after which he thought about doing something to benefit society.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">While traveling, they struggled to find reliable, comfortable transportation. Mudassir said, \u201cIn Riyadh, it wasn\u2019t easy to find a ride from <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">the airport to our meeting venue. Sometimes we didn\u2019t know the way, and we also had to pay in cash, which we didn\u2019t have. So we had to go to an ATM <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">\u2014it was exhausting.\u201d<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">He adds, \u201cAt first, we spoke with drivers in Dubai and Pakistan who work 16 hours a week about how they could save 90% of their earnings <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">to help educate their children and face life\u2019s challenges.\u201d<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\"><strong>Choosing the name \u201cCareem\u201d<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">The name was chosen for several reasons, including:<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">- Generosity toward customers: by providing exceptional service, unlike anything previously seen in the region.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">- Generosity toward drivers: by caring for them, their health, and their families\u2014not merely providing them with a job.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\"><strong>Finance<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Over time, Careem found supporters in Saudi Arabia\u2019s Telecom Ventures and the Al Tayyar Group.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #00ccff;\"><strong>Competing with Uber<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">In 2013, nine months after Careem launched, Uber rapidly expanded across the Arab world, but faced a challenge with credibility.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Speaking about the competition with Uber, Mudassir said it pushed him to cut his rest time from six hours to three. He then launched his company\u2019s own app, which helped build trust in <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">Careem, since it pinpoints the customer\u2019s location accurately and drivers are committed to completing the ride they have accepted.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">On March 25, 2019, the official announcement was made that the company \u201c<a href=\"https:\/\/ar.wikipedia.org\/wiki\/%D8%A3%D9%88%D8%A8%D8%B1\" target=\"_blank\" rel=\"noopener\">Uber<\/a>\u00a0\u201c\u0639\u0644\u0649 \u0634\u0631\u0643\u0629 \u201c\u0643\u0631\u064a\u0645\u201d\u060c \u0645\u0642\u0627\u0628\u0644 3.1 \u0645\u0644\u064a\u0627\u0631 \u062f\u0648\u0644\u0627\u0631.<\/span><\/p>\n<p>.<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-size: 28px; font-family: 'comic sans ms', sans-serif; color: #ff6600;\"><strong>Lessons Learned:<\/strong><\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">- Find the right partner: Choose a suitable partner for the project, making sure you share the same vision and goals and that they bring relevant experience.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">- Leverage experience: \u201cLook up old friends\u2014you may find someone like you and benefit from their expertise in your field,\u201d says Mudassir.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px; font-family: 'comic sans ms', sans-serif;\">- Solve local problems: Focus on understanding and solving local problems, and consider building a startup and assembling a strong team.<\/span><\/p>\n<p style=\"text-align: center;\">","protected":false},"excerpt":{"rendered":"<p>&nbsp; \u0627\u0644\u0627\u0633\u0645: \u0645\u0648\u062f\u0627\u0633\u064a\u0631 \u0634\u064a\u062e\u0629 \u0627\u0644\u062c\u0646\u0633\u064a\u0629: \u0628\u0627\u0643\u0633\u062a\u0627\u0646\u064a \u0627\u0644\u0634\u0631\u0643\u0629: \u0643\u0631\u064a\u0645 \u0627\u0644\u062a\u0623\u0633\u064a\u0633: \u064a\u0648\u0644\u064a\u0648 \u0639\u0627\u0645 2012 \u00a0\u0627\u0644\u0645\u0642\u0631:\u00a0\u062f\u0628\u064a \u0633\u0639\u064a\u064b\u0627 \u0644\u062a\u0642\u062f\u064a\u0645 \u062e\u062f\u0645\u0629 \u0645\u062a\u0645\u064a\u0651\u0632\u0629 \u0648\u0641\u0631\u064a\u062f\u0629 \u0644\u0644\u0639\u0645\u0644\u0627\u0621 \u0641\u064a \u0627\u0644\u0648\u0637\u0646 \u0627\u0644\u0639\u0631\u0628\u064a\u060c \u0648\u0627\u0646\u0637\u0644\u0627\u0642\u064b\u0627 \u0645\u0646 \u0645\u0641\u0647\u0648\u0645 \u0627\u0644\u0643\u0631\u0645\u060c<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":3,"featured_media":18811,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_ibtdi_aa_focus_keyword":"","_ibtdi_aa_secondary_keywords":"","_ibtdi_aa_audience":"","_ibtdi_aa_tone":"","_ibtdi_aa_summary":"","_ibtdi_aa_reviewer_name":"","_ibtdi_aa_reviewer_bio":"","_ibtdi_aa_reviewer_url":"","_ibtdi_aa_reviewed_date":"","_ibtdi_aa_service_id":"","_ibtdi_aa_related_ids":"","_ibtdi_aa_human_reviewed":"","_ibtdi_aa_disable":"","_ibtdi_aa_disable_links":"","_ibtdi_aa_sources":"","_ibtdi_aa_update_notes":"","footnotes":""},"categories":[491],"tags":[15020,18879,18878,18877,18880],"class_list":["post-18810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-491","tag-15020","tag-18879","tag-18878","tag-18877","tag-18880"],"_links":{"self":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/posts\/18810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/comments?post=18810"}],"version-history":[{"count":0,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/posts\/18810\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/media\/18811"}],"wp:attachment":[{"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/media?parent=18810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/categories?post=18810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ibtdi.com\/en\/wp-json\/wp\/v2\/tags?post=18810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}