Almost 300 Careem employees will become millionaires as a result of Uber acquisition

[Areesh]

idk, the promos i get make up for their rudeness. but their wallet system is crap, 5,5 rs kar k 500 rs uber kha chuka hai meray.

Aaj hi 100rs credit mila tha careem sai aur yeh news aa gayi

 

[Dubious]

idk, the promos i get make up for their rudeness. but their wallet system is crap, 5,5 rs kar k 500 rs uber kha chuka hai meray.

Careem is doing something similar...my leftover money disappears after weeks...

 

[S.Y.A]

Aaj hi 100rs credit mila tha careem sai aur yeh news aa gayi

 

[LeGenD]

I hope they don't merge the app in Pakistan (which they will most probably do ) as I think careem offers a better service than uber and have better drivers.

I find Uber cheaper and more user-friendly; Careem is overrated.

Drivers can be good or bad in case of either company. Mixed situation.

 

[Thəorətic Muslim]

Everyone here saying "please don't".

Uber nor Careem care about the consumer.

If Pakistanis have an issue they're welcome to start their own competing company like the Chinese, Indians, Brazilians, Singapore have done.

Unless of course Pakistanis are ok with having the likes of Uber & Careem convert their Rupees into Dollars to extract from the economy.

 

[Zulfiqar]

I find Uber cheaper and more user-friendly; Careem is overrated.

Drivers can be good or bad in case of either company. Mixed situation.

To each his own. My experience has not been so good with them.

I like careem's offers, wallet features and transferring of balance to fellow users.I did not see the same in uber app.

Some drivers use both apps to pick up rides. Those guys will also be affected by it.

Oh well. Lets see what happens down the line.

The government/competetion commission/whoever the regulator is should not allow the merger in Pakistani market as this would result in uber raising up the price similar to what game.invade said.

 

[YeBeWarned]

Monopoly in the making.

spot on ..

 

[@@@]

Don’t worry. Inshallah there will be a better alternative to both these two.

 

[Skyliner]

No pls no, uber offers horrible service, and it will turn careem into shit too.

 

[Cookie Monster]

Monopoly in the making.

Right around the time when Uber came out and was new new...I was a comp sci major then...and I thought about making a similar platform but for free.

Right now Uber acts as a middle man...it connects the person in need of a ride to a person offering a ride...and in that transaction uber keeps a cut...kind of like Ebay. If someone is to create a craigslist equivalent of this, where a platform is provided to connect a person looking for a ride to a person offering a ride...with the middle man staying out of it completely, it would put companies like Uber and Lyft in check. They would have to lower their percentage of the cut and be forced to provide better service for less money.

Of course it would create problems like financing such a service for its ongoing operations...but I think it would be fine just based on donations(like wikipedia) and possibly ads.

In any case I never followed up on it bcuz I'm extraordinarily lazy...so I'm just putting the idea out there for anyone who might wanna work on this.

 

[Yaseen1]

I think we should form new online taxi service of our yellow taxi cars used before arrival of careem and uber it will be much cheaper than careem and uber

 

[Shahzaz ud din]

Almost 300 Careem employees will become millionaires as a result of Uber acquisition
By Asra Rizwan on March 27, 2019 - Like us now!

The National.

All the employees of Careem had stock options and their company shares will be bought as part of the Uber acquisition deal worth $3.1 billion. This transaction will be completed by the first quarter of 2020 and will be divided into $1.4 billion to be paid in cash and $1.7 billion in convertible notes into Uber stock. Both ride-hailing companies will operate their respective regional services and independent brands. Both companies’ apps will also continue to operate under separate brands.

The 4000 Careem employees who had stock options included its pool of executives, developers, and engineers working across all locations of the ride-hailing companies for operations and R&D. The acquisition of the entire company means that these shares will be acquired by Uber as well creating millionaires.

Some of the Careem executives other than Mudassir Sheikha, Magnus Olsson, and Abdulla Elyas whose net worth will skyrocket after this transaction are likely to include:

• Ankur Shah, Chief Finance and Development Officer
• Fatima Mazhar, Early Stage Markets Director
• Hadeer Shalaby, Co-Founder Taxi El Sa7el acquihired by Careem, now Regional Director of Careem Bus
• Junaid Iqbal, Managing Director for Pakistan and Saudia Arabia
• Ibrahim Manna, Managing Director for Emerging Markets
• Bassel Al Nahlaoui, Managing Director for Gulf
• Madeeha Hassan, Founder of Savaree, acquihired by Careem, now Product Manager of Careem
• Sandeep Shetty, Managing Director & SVP – Ride Hailing Department

The employees who will create wealth are not only the executives and operational team who have been associated with the company since its early days but also those who left after serving for a time period and earned company stock. Startup founders whose companies were acquired by Careem will also gain considerable wealth with this acquisition. However, Careem captains are not part of the transaction.

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[KhalaiMakhlooq]

wooohooooooooo!