Careem is a Dubai-based super app with operations in over 100 cities, covering 12 countries across the Middle East, Africa, and South Asia regions. The company, which was valued at over billion in 2018, became a wholly-owned subsidiary of Uber after being acquired for $3.1 billion in January 2020. Careem expanded into the food delivery business with Careem Now in November 2018 and launched a digital payment platform, Careem Pay in April 2022. History Careem was founded by Mudassir Sheikha, an American of Pakistani origin and Magnus Olsson of Sweden, who had both worked as management consultants at McKinsey & Company. It started operating in July 2012 as a website-based service for corporate car bookings, and evolved to become a ridesharing company with car hire for everyday use. In 2015, the company acquired a Saudi-based home service company and Abdulla Elyas joined Careem. In 2017, the company announced a program to extend maternity leave and hire more women. In June 2017, Careem launched operations in Palestine as part of a commitment to create one million jobs in the MENA region by the end of 2018. In January 2018, they became the first ride-hailing service to launch in Baghdad. The company also has locations in Najaf and Erbil, Kurdistan Region. It was announced in February 2018, that Careem has acquired RoundMenu, a restaurant listing and food ordering platform that operates across the Arab world. In August 2018, Careem said they would be launching bus services, starting with cities in Egypt in December of the same year. The service was discontinued in early 2020. In May 2019, Careem announced the acquisition of UAE-based bike-sharing startup Cycle which will re-brand as Careem Bike. In April 2021, Careem launched Careem Pay, a digital wallet for money transfers and withdrawals in the UAE. In June 2022, Careem suspended food delivery service in Pakistan over unfavorable economic conditions. Funding Careem received seed money of million in a round led by STC Ventures in 2013. In 2014, it received funding of million in a Series B round led by Al Tayyar Travel Group and STC Ventures. In November 2015, Careem announced a Series C round investment of million led by The Abraaj Group. In October 2016, the company reached an agreement with regulators in Dubai whereby customers are able to book all taxicabs and limousines operating in Dubai via the Careem mobile app. In December 2016, the